Domani Wealth LLC Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Domani Wealth LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,888 shares of the company’s stock after selling 897 shares during the period. PepsiCo comprises approximately 0.8% of Domani Wealth LLC’s portfolio, making the stock its 22nd largest position. Domani Wealth LLC’s holdings in PepsiCo were worth $3,556,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NEXT Financial Group Inc boosted its position in PepsiCo by 10.7% during the second quarter. NEXT Financial Group Inc now owns 14,548 shares of the company’s stock valued at $1,924,000 after buying an additional 1,411 shares during the period. Weaver Consulting Group boosted its position in PepsiCo by 9.5% during the second quarter. Weaver Consulting Group now owns 2,424 shares of the company’s stock valued at $321,000 after buying an additional 210 shares during the period. Wambolt & Associates LLC purchased a new stake in PepsiCo during the second quarter valued at about $230,000. Telos Capital Management Inc. boosted its position in PepsiCo by 13.9% during the second quarter. Telos Capital Management Inc. now owns 65,882 shares of the company’s stock valued at $8,714,000 after buying an additional 8,053 shares during the period. Finally, RNC Capital Management LLC boosted its position in PepsiCo by 53.2% during the second quarter. RNC Capital Management LLC now owns 31,626 shares of the company’s stock valued at $4,183,000 after buying an additional 10,987 shares during the period. Institutional investors and hedge funds own 70.60% of the company’s stock.

Several research firms have issued reports on PEP. Citigroup cut their price target on shares of PepsiCo from $157.00 to $148.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Cfra upped their price objective on shares of PepsiCo from $145.00 to $150.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 28th. Cowen upped their price objective on shares of PepsiCo from $135.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Guggenheim upped their price objective on shares of PepsiCo from $134.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group upped their price objective on shares of PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $143.00.

In other PepsiCo news, SVP Marie T. Gallagher sold 3,335 shares of the firm’s stock in a transaction that occurred on Thursday, July 16th. The shares were sold at an average price of $133.32, for a total transaction of $444,622.20. Following the completion of the transaction, the senior vice president now owns 54,029 shares of the company’s stock, valued at $7,203,146.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ramon Laguarta sold 13,109 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of $134.86, for a total transaction of $1,767,879.74. Following the transaction, the chief executive officer now directly owns 281,972 shares of the company’s stock, valued at approximately $38,026,743.92. The disclosure for this sale can be found here. Insiders have sold 26,655 shares of company stock valued at $3,591,883 in the last ninety days. Insiders own 0.13% of the company’s stock.

PEP stock opened at $136.06 on Friday. PepsiCo, Inc. has a 1 year low of $101.42 and a 1 year high of $147.20. The company has a market cap of $188.78 billion, a P/E ratio of 27.82, a PEG ratio of 4.54 and a beta of 0.58. The firm has a 50-day moving average of $132.43 and a 200 day moving average of $133.69. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.97 and a quick ratio of 0.79.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, July 13th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.07. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.47 billion. During the same period in the prior year, the firm earned $1.54 earnings per share. PepsiCo’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 5.34 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.0225 per share. This represents a $4.09 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, September 3rd. PepsiCo’s dividend payout ratio is 73.96%.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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