PepsiCo, Inc. (NASDAQ:PEP) Position Lowered by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,840 shares of the company’s stock after selling 394 shares during the quarter. Meridian Wealth Partners LLC’s holdings in PepsiCo were worth $304,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC raised its holdings in shares of 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 period. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new stake in PepsiCo during the second quarter worth about $30,000. Fortis Group Advisors LLC boosted its stake in 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. bought a new position in shares of PepsiCo during the first quarter valued at approximately $35,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PEP. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Barclays increased their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. Finally, Bank of America dropped their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Trading Down 0.2 %

Shares of PepsiCo stock opened at $176.87 on Wednesday. The business has a fifty day simple moving average of $172.97 and a 200-day simple moving average of $171.65. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The firm has a market cap of $243.16 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. 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 issued 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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.06%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.