Forum Financial Management LP Sells 5,939 Shares of PepsiCo, Inc. $PEP

Forum Financial Management LP lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 54.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,951 shares of the company’s stock after selling 5,939 shares during the period. Forum Financial Management LP’s holdings in PepsiCo were worth $769,000 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 stock. Cypress Capital Management LLC WY raised its stake in PepsiCo by 8.3% during the 4th quarter. Cypress Capital Management LLC WY now owns 838 shares of the company’s stock worth $121,000 after acquiring an additional 64 shares during the period. United Bank increased its stake in shares of PepsiCo by 3.9% in the fourth quarter. United Bank now owns 1,717 shares of the company’s stock worth $246,000 after purchasing an additional 65 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its stake in shares of PepsiCo by 2.5% in the first quarter. Onyx Bridge Wealth Group LLC now owns 2,673 shares of the company’s stock worth $415,000 after purchasing an additional 66 shares in the last quarter. Richards Merrill & Peterson Inc. raised its position in shares of PepsiCo by 3.6% during the 1st quarter. Richards Merrill & Peterson Inc. now owns 1,938 shares of the company’s stock valued at $301,000 after purchasing an additional 67 shares during the period. Finally, Koa Wealth Management LLC lifted its stake in shares of PepsiCo by 0.9% during the 4th quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock valued at $1,149,000 after buying an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of analyst reports. TD Cowen cut their price target on PepsiCo from $165.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Jefferies Financial Group set a $162.00 price objective on PepsiCo in a research note on Thursday, June 25th. The Goldman Sachs Group increased their target price on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. JPMorgan Chase & Co. boosted their price target on PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Finally, Sanford C. Bernstein started coverage on PepsiCo in a research note on Thursday, June 11th. They issued a “market perform” rating and a $143.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $166.85.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Investor sentiment was lifted by bullish commentary from 24/7 Wall St., which argued PepsiCo could have more than 20% upside based on a price target above current levels and called the stock a buy. Pepsi Price Prediction: The Case for 20%+ Upside
• Positive Sentiment: Unusual options activity pointed to rising trader interest, with investors buying a large volume of PepsiCo call options, often interpreted as a bullish signal. Investors Buy Large Volume of PepsiCo Call Options (NASDAQ:PEP)
• Positive Sentiment: PepsiCo expanded its manufacturing footprint in India by commissioning a second flavor plant in Ujjain, a long-term growth investment that could support supply and regional demand. PepsiCo India opens ₹1,266 cr flavour manufacturing facility in Ujjain
• Neutral Sentiment: Analysts are heading into PepsiCo’s July 9 earnings release expecting higher Q2 earnings and revenue, but this is still a forecast rather than a reported result. PepsiCo Likely To Report Higher Q2 Earnings
• Neutral Sentiment: PepsiCo is also facing a trademark dispute involving “Rise” and “Mtn Dew Rise” at the U.S. Supreme Court, which adds legal uncertainty but is not yet a confirmed financial hit. US Supreme Court takes up Pepsi ‘Mtn Dew Rise’ trademark dispute
• Negative Sentiment: Competition in the soda market remains intense, with Coca-Cola highlighted as having a Freestyle-machine advantage and launching an exclusive new soda flavor at Wingstop, underscoring pressure on PepsiCo’s beverage business. Coca-Cola launches exclusive soda flavor at fast-food giant

PepsiCo Trading Down 2.4%

Shares of PepsiCo stock opened at $135.40 on Wednesday. PepsiCo, Inc. has a twelve month low of $132.47 and a twelve month high of $171.48. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The business has a 50-day moving average price of $147.56 and a 200-day moving average price of $151.91. The firm has a market cap of $185.06 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.80 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.06. The business had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 8.62 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a $1.48 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, June 5th. PepsiCo’s dividend payout ratio (DPR) is presently 92.94%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.