Parkside Financial Bank & Trust Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Parkside Financial Bank & Trust lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,800 shares of the company’s stock after selling 494 shares during the period. Parkside Financial Bank & Trust’s holdings in PepsiCo were worth $2,441,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC increased its position in PepsiCo by 77.5% during 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 period. POM Investment Strategies LLC increased its holdings in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new position in PepsiCo in the second quarter worth approximately $30,000. Fortis Group Advisors LLC lifted its holdings in PepsiCo by 100.0% during the fourth 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 period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in PepsiCo during the 1st quarter valued at $35,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP traded down $1.42 during mid-day trading on Friday, hitting $177.88. The company’s stock had a trading volume of 1,170,011 shares, compared to its average volume of 5,443,443. The stock has a market cap of $244.33 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.98 and a beta of 0.53. The business’s fifty day moving average is $170.71 and its two-hundred day moving average is $171.06. 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, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.09 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm 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 dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analysts Set New Price Targets

PEP has been the subject of a number of analyst reports. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Barclays boosted their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Bank of America lowered their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.