Beacon Pointe Advisors LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 41.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,347 shares of the company’s stock after selling 9,589 shares during the period. Beacon Pointe Advisors LLC’s holdings in PepsiCo were worth $1,750,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Marietta Wealth Management LLC lifted its holdings in PepsiCo by 3.6% in the second quarter. Marietta Wealth Management LLC now owns 22,145 shares of the company’s stock worth $2,904,000 after buying an additional 763 shares during the period. Laurel Wealth Advisors Inc. increased its stake in shares of PepsiCo by 1.3% during the first quarter. Laurel Wealth Advisors Inc. now owns 23,826 shares of the company’s stock valued at $2,920,000 after purchasing an additional 296 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of PepsiCo by 72.6% during the second quarter. AE Wealth Management LLC now owns 64,904 shares of the company’s stock valued at $8,511,000 after purchasing an additional 27,302 shares in the last quarter. CenturyLink Investment Management Co increased its stake in shares of PepsiCo by 41.5% during the second quarter. CenturyLink Investment Management Co now owns 17,769 shares of the company’s stock valued at $2,330,000 after purchasing an additional 5,209 shares in the last quarter. Finally, Bouchey Financial Group Ltd bought a new position in shares of PepsiCo during the second quarter valued at approximately $211,000. Institutional investors own 71.46% of the company’s stock.
NASDAQ:PEP traded down $0.37 during trading hours on Wednesday, reaching $135.33. The company had a trading volume of 97,105 shares, compared to its average volume of 3,673,122. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. PepsiCo, Inc. has a 52 week low of $104.53 and a 52 week high of $139.18. The firm has a market cap of $190.77 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 3.54 and a beta of 0.56. The firm’s 50 day moving average price is $132.57 and its 200-day moving average price is $128.27.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.955 per share. This represents a $3.82 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 5th. PepsiCo’s dividend payout ratio is presently 67.49%.
In related news, CEO Steven C. Williams sold 2,420 shares of PepsiCo stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares in the company, valued at approximately $7,356,534. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kirk Tanner sold 9,573 shares of PepsiCo stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the transaction, the chief executive officer now owns 105,350 shares in the company, valued at approximately $13,500,602.50. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
PEP has been the subject of a number of analyst reports. Argus reaffirmed a “buy” rating on shares of PepsiCo in a research note on Thursday, July 11th. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Atlantic Securities began coverage on shares of PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 price target for the company. ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. Finally, SunTrust Banks reissued a “hold” rating and set a $125.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $131.21.
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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