PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Van Cleef Asset Management Inc

Van Cleef Asset Management Inc cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,440 shares of the company’s stock after selling 1,034 shares during the period. PepsiCo accounts for about 1.7% of Van Cleef Asset Management Inc’s holdings, making the stock its 16th biggest position. Van Cleef Asset Management Inc’s holdings in PepsiCo were worth $13,927,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Valued Wealth Advisors LLC grew its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC lifted its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in PepsiCo in the 2nd quarter valued at $30,000. Fortis Group Advisors LLC raised its position in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $177.81 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The stock has a market cap of $244.23 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The business has a fifty day moving average of $171.55 and a 200-day moving average of $171.29.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PEP shares. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Royal Bank of Canada reduced their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company reduced their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, TD Cowen cut their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

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.