PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,021 shares of the company’s stock after selling 1,734 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in PepsiCo were worth $19,409,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. PFG Advisors increased its position in shares of PepsiCo by 1.4% in the second quarter. PFG Advisors now owns 23,293 shares of the company’s stock valued at $3,882,000 after buying an additional 330 shares in the last quarter. Lee Johnson Capital Management LLC increased its position in shares of PepsiCo by 8.1% in the second quarter. Lee Johnson Capital Management LLC now owns 8,162 shares of the company’s stock valued at $1,360,000 after buying an additional 611 shares in the last quarter. Stokes Capital Advisors LLC increased its position in shares of PepsiCo by 1.6% in the second quarter. Stokes Capital Advisors LLC now owns 31,930 shares of the company’s stock valued at $5,321,000 after buying an additional 507 shares in the last quarter. ACG Wealth increased its position in shares of PepsiCo by 4.6% in the second quarter. ACG Wealth now owns 4,663 shares of the company’s stock valued at $777,000 after buying an additional 207 shares in the last quarter. Finally, Diligent Investors LLC increased its position in shares of PepsiCo by 8.8% in the second quarter. Diligent Investors LLC now owns 1,967 shares of the company’s stock valued at $328,000 after buying an additional 159 shares in the last quarter. 71.38% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $168.60 on Friday. The stock’s fifty day moving average is $173.32 and its two-hundred day moving average is $170.45. The firm has a market capitalization of $232.65 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 3.30 and a beta of 0.55. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a fifty-two week low of $149.48 and a fifty-two week high of $181.07.

PepsiCo (NASDAQ:PEPGet Rating) last announced its quarterly earnings results on Tuesday, July 12th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.73 by $0.13. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The business had revenue of $20.23 billion for the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the company posted $1.72 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that PepsiCo, Inc. will post 6.66 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 1st. PepsiCo’s dividend payout ratio (DPR) is presently 69.28%.

Insider Activity

In other news, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the transaction, the chief executive officer now owns 70,892 shares of the company’s stock, valued at approximately $12,135,292.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $174.83, for a total transaction of $600,191.39. Following the transaction, the chief executive officer now owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the transaction, the chief executive officer now directly owns 70,892 shares in the company, valued at approximately $12,135,292.56. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays dropped their price target on PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Credit Suisse Group boosted their price target on PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Finally, UBS Group dropped their price target on PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

About PepsiCo

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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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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