Principal Financial Group Inc. Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Principal Financial Group Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,795,473 shares of the company’s stock after selling 14,222 shares during the quarter. Principal Financial Group Inc. owned 0.13% of PepsiCo worth $296,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Valued Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC boosted its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter valued at $30,000. Fortis Group Advisors LLC raised its stake in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of PepsiCo during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.5 %

NASDAQ PEP traded up $0.79 during midday trading on Friday, hitting $172.88. 8,677,295 shares of the company traded hands, compared to its average volume of 5,453,207. The company has a market cap of $237.67 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.98 and a beta of 0.52. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company’s 50-day simple moving average is $169.92 and its 200-day simple moving average is $170.80.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PEP. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company reduced their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. TD Cowen cut their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada decreased their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.