Connors Investor Services Inc. Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Connors Investor Services Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 62,411 shares of the company’s stock after selling 3,327 shares during the period. Connors Investor Services Inc.’s holdings in PepsiCo were worth $10,293,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PEP. Capital Advisors Ltd. LLC boosted its holdings in shares of PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the period. Norden Group LLC lifted its stake in PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares during the last quarter. Marion Wealth Management grew its position in shares of PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after acquiring an additional 494 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after acquiring an additional 11,485 shares during the period. Finally, Meyer Handelman Co. lifted its position in PepsiCo by 3.9% in the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after purchasing an additional 9,465 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent analyst reports. Barclays lifted their price target on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Wells Fargo & Company cut 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. JPMorgan Chase & Co. lowered their target price 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. Finally, Jefferies Financial Group decreased their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Trading Down 0.1 %

PepsiCo stock opened at $177.21 on Tuesday. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market capitalization of $243.41 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a 50 day moving average price of $172.67 and a 200 day moving average price of $171.57.

PepsiCo (NASDAQ:PEP) last issued 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 business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 earnings per share. Research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 78.66%.

PepsiCo 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.