PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Cahaba Wealth Management Inc.

Cahaba Wealth Management Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 30.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,701 shares of the company’s stock after selling 2,055 shares during the period. Cahaba Wealth Management Inc.’s holdings in PepsiCo were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PEP. Gilbert & Cook Inc. boosted its holdings in PepsiCo by 23.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock valued at $1,014,000 after purchasing an additional 1,133 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in shares of PepsiCo by 4.4% during the 4th quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after acquiring an additional 229 shares in the last quarter. 9258 Wealth Management LLC lifted its stake in PepsiCo by 56.0% in the 4th quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock valued at $1,407,000 after buying an additional 2,974 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in PepsiCo by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after buying an additional 3,635 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in PepsiCo by 3.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,767 shares of the company’s stock valued at $4,886,000 after buying an additional 833 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $177.34 on Friday. The firm’s 50 day moving average is $170.96 and its two-hundred day moving average is $171.13. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The firm has a market capitalization of $243.59 billion, a P/E ratio of 25.74, a PEG ratio of 2.98 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last announced its quarterly 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. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same quarter last year, the business earned $2.09 earnings per share. PepsiCo’s revenue was up .8% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. PepsiCo’s dividend payout ratio is presently 78.66%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Bank of America cut their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. TD Cowen dropped their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Barclays upped their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group decreased their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Moderate Buy” and an average target price of $185.53.

About PepsiCo

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.