Peloton Wealth Strategists Sells 200 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Peloton Wealth Strategists reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,812 shares of the company’s stock after selling 200 shares during the quarter. PepsiCo makes up about 1.8% of Peloton Wealth Strategists’ holdings, making the stock its 20th biggest holding. Peloton Wealth Strategists’ holdings in PepsiCo were worth $4,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Avion Wealth lifted its stake in shares of PepsiCo by 70.6% in the 2nd quarter. Avion Wealth now owns 145 shares of the company’s stock valued at $25,000 after purchasing an additional 60 shares during the period. Spotlight Asset Group Inc. bought a new position in PepsiCo in the second quarter worth $27,000. Pacific Center for Financial Services bought a new stake in shares of PepsiCo during the 1st quarter valued at $47,000. GW&K Investment Management LLC purchased a new stake in shares of PepsiCo in the 1st quarter worth about $55,000. Finally, Alpha Paradigm Partners LLC bought a new position in shares of PepsiCo in the 3rd quarter worth about $66,000. 71.40% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $0.44 during trading on Monday, hitting $166.32. The company had a trading volume of 447,733 shares, compared to its average volume of 4,876,163. The stock has a 50 day simple moving average of $167.57 and a 200 day simple moving average of $178.60. The firm has a market capitalization of $228.67 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.71 and a current ratio of 0.88. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, October 10th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. The firm had revenue of $23.45 billion during the quarter, compared to analysts’ expectations of $23.41 billion. PepsiCo had a net margin of 9.05% and a return on equity of 58.28%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.97 earnings per share. As a group, analysts anticipate that PepsiCo, Inc. will post 7.55 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 1st will be given a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, November 30th. PepsiCo’s payout ratio is currently 84.33%.

Insider Buying and Selling

In other news, CFO Hugh F. Johnston sold 48,388 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $166.65, for a total transaction of $8,063,860.20. Following the completion of the transaction, the chief financial officer now owns 96,627 shares in the company, valued at $16,102,889.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

PEP has been the topic of several recent research reports. Wedbush cut their price target on PepsiCo from $206.00 to $195.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. Jefferies Financial Group initiated coverage on PepsiCo in a report on Monday, November 13th. They set a “buy” rating and a $203.00 price target for the company. Citigroup cut their price objective on shares of PepsiCo from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 11th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a research report on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Moderate Buy” and a consensus price target of $187.57.

PepsiCo Profile

PepsiCo, Inc manufactures, markets, distributes, and sells 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.