PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Taurus Asset Management LLC

Taurus Asset Management LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,683 shares of the company’s stock after selling 100 shares during the quarter. Taurus Asset Management LLC’s holdings in PepsiCo were worth $7,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. Capital Advisors Ltd. LLC increased its stake in PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares during the period. V Square Quantitative Management LLC boosted its position in PepsiCo by 1.1% in the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after buying an additional 180 shares during the period. Norden Group LLC grew its stake in shares of PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares in the last quarter. Marion Wealth Management raised its stake in shares of PepsiCo by 6.3% in the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after acquiring an additional 494 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in PepsiCo by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after purchasing an additional 11,485 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $177.36 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The company has a 50-day moving average price of $172.37 and a 200 day moving average price of $171.45. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a market cap of $243.62 billion, a P/E ratio of 25.74, a PEG ratio of 3.03 and a beta of 0.53.

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

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEP. Bank of America reduced their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company lowered their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. TD Cowen lowered their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Morgan Stanley decreased their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research note on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.53.

About PepsiCo

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.