Cullen Frost Bankers Inc. Has $20.58 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Cullen Frost Bankers Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,753 shares of the company’s stock after selling 3,033 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in PepsiCo were worth $20,575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valued Wealth Advisors LLC boosted its holdings in PepsiCo by 77.5% during the first 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 last quarter. POM Investment Strategies LLC boosted its holdings 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 purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo during the second quarter worth $30,000. Fortis Group Advisors LLC boosted its holdings in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in PepsiCo during the first quarter worth $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PEP shares. Royal Bank of Canada dropped their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Bank of America reduced their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Trading Down 0.3 %

PEP traded down $0.60 during midday trading on Friday, hitting $177.34. 6,395,276 shares of the company were exchanged, compared to its average volume of 5,471,998. The firm has a market capitalization of $243.59 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.98 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The firm’s 50 day moving average price is $170.96 and its 200-day moving average price is $171.13. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

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

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.