Tower Research Capital LLC TRC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 78.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,209 shares of the company’s stock after selling 15,507 shares during the period. Tower Research Capital LLC TRC’s holdings in PepsiCo were worth $552,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Personal Wealth Partners acquired a new position in shares of PepsiCo during the second quarter valued at about $25,000. Krane Funds Advisors LLC acquired a new position in shares of PepsiCo during the second quarter valued at about $25,000. Evolution Wealth Advisors LLC acquired a new position in shares of PepsiCo during the second quarter valued at about $27,000. Financial Advantage Inc. acquired a new position in shares of PepsiCo during the second quarter valued at about $28,000. Finally, G&S Capital LLC grew its holdings in shares of PepsiCo by 96.3% during the second quarter. G&S Capital LLC now owns 371 shares of the company’s stock valued at $49,000 after buying an additional 182 shares during the last quarter. 71.46% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PEP traded down $0.80 during midday trading on Wednesday, hitting $134.90. The company’s stock had a trading volume of 855,674 shares, compared to its average volume of 3,673,122. The stock has a fifty day moving average price of $132.57 and a 200 day moving average price of $128.27. PepsiCo, Inc. has a one year low of $104.53 and a one year high of $139.18. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $190.77 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 3.54 and a beta of 0.56.
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 given a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 5th. PepsiCo’s dividend payout ratio (DPR) is currently 67.49%.
PEP has been the topic of several analyst reports. Argus restated a “buy” rating on shares of PepsiCo in a report on Thursday, July 11th. BMO Capital Markets restated an “average” rating and set a $128.00 price target on shares of PepsiCo in a report on Wednesday, July 10th. Jefferies Financial Group boosted their price target on shares of PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. Bank of America boosted their price target on shares of PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Credit Suisse Group boosted their price target on shares of PepsiCo from $110.00 to $117.00 and gave the stock an “underperform” rating in a report on Friday, September 6th. 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 stock. PepsiCo has a consensus rating of “Buy” and an average target price of $131.21.
In related news, CEO Kirk Tanner sold 9,573 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction of $324,159.00. Following the sale, the chief executive officer now directly owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
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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