Morningstar Investment Services LLC Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Morningstar Investment Services LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,818 shares of the company’s stock after selling 5,090 shares during the quarter. Morningstar Investment Services LLC’s holdings in PepsiCo were worth $20,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. StrongBox Wealth LLC lifted its stake in shares of PepsiCo by 126.7% during the second quarter. StrongBox Wealth LLC now owns 5,289 shares of the company’s stock worth $700,000 after purchasing an additional 2,956 shares in the last quarter. EFG Asset Management Americas Corp. purchased a new stake in shares of PepsiCo during the 2nd quarter valued at about $1,361,000. Huntington National Bank raised its holdings in shares of PepsiCo by 14.1% during the 2nd quarter. Huntington National Bank now owns 535,814 shares of the company’s stock valued at $70,866,000 after buying an additional 66,091 shares during the period. Lyell Wealth Management LP lifted its position in PepsiCo by 143.8% during the 2nd quarter. Lyell Wealth Management LP now owns 12,820 shares of the company’s stock worth $1,696,000 after acquiring an additional 7,561 shares in the last quarter. Finally, Washington Trust Bank boosted its holdings in PepsiCo by 7.2% in the 2nd quarter. Washington Trust Bank now owns 7,597 shares of the company’s stock worth $1,005,000 after acquiring an additional 512 shares during the period. 70.60% of the stock is owned by hedge funds and other institutional investors.

In other PepsiCo news, CEO Steven C. Williams sold 2,600 shares of the business’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $134.32, for a total transaction of $349,232.00. Following the completion of the transaction, the chief executive officer now directly owns 67,718 shares of the company’s stock, valued at approximately $9,095,881.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald Schellekens sold 7,611 shares of the company’s stock in a transaction dated Wednesday, July 15th. The stock was sold at an average price of $135.35, for a total transaction of $1,030,148.85. Following the completion of the transaction, the executive vice president now owns 36,639 shares of the company’s stock, valued at approximately $4,959,088.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,655 shares of company stock valued at $3,591,883. 0.13% of the stock is owned by company insiders.

Shares of NASDAQ PEP traded down $0.03 during midday trading on Friday, hitting $137.66. The company’s stock had a trading volume of 4,304,080 shares, compared to its average volume of 4,248,457. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.79 and a current ratio of 0.97. PepsiCo, Inc. has a 1-year low of $101.42 and a 1-year high of $147.20. The firm’s fifty day moving average price is $133.06 and its 200-day moving average price is $133.75. The firm has a market cap of $191.04 billion, a P/E ratio of 28.15, a P/E/G ratio of 4.60 and a beta of 0.58.

PepsiCo (NASDAQ:PEP) last issued its 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. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.47 billion. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. PepsiCo’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $1.54 earnings per share. As a group, research analysts predict that PepsiCo, Inc. will post 5.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 4th will be given a dividend of $1.0225 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $4.09 dividend on an annualized basis and a yield of 2.97%. PepsiCo’s dividend payout ratio is currently 73.96%.

PEP has been the topic of a number of recent research reports. Morgan Stanley reissued a “buy” rating on shares of PepsiCo in a research report on Wednesday, May 13th. Guggenheim boosted their price objective on shares of PepsiCo from $134.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Cowen raised their target price on PepsiCo from $135.00 to $156.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Royal Bank of Canada reaffirmed a “buy” rating and set a $153.00 target price on shares of PepsiCo in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group increased their price target on PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, July 9th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. PepsiCo currently has a consensus rating of “Buy” and a consensus price target of $142.87.

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.

See Also: Range Trading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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