PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Bokf Na

Bokf Na reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.8% in the 2nd quarter, Holdings Channel reports. The firm owned 197,343 shares of the company’s stock after selling 19,003 shares during the quarter. Bokf Na’s holdings in PepsiCo were worth $32,548,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PEP. Strategy Asset Managers LLC raised its position in shares of PepsiCo by 0.9% in the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after purchasing an additional 57 shares during the period. Meixler Investment Management Ltd. lifted its position in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC grew its position in shares of PepsiCo by 2.2% in the second quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton increased its stake in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock worth $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC lifted its position in shares of PepsiCo by 0.7% during the 2nd quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEP. Bank of America lowered their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Barclays raised their price target on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Price Performance

Shares of PEP stock opened at $175.78 on Thursday. The stock’s fifty day simple moving average is $171.82 and its 200 day simple moving average is $171.33. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The firm has a market cap of $241.45 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 EPS. On average, analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.