Balentine LLC Sells 30,337 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Balentine LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 81.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,985 shares of the company’s stock after selling 30,337 shares during the quarter. Balentine LLC’s holdings in PepsiCo were worth $1,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Insight Inv LLC grew its stake in shares of PepsiCo by 3.3% in the 2nd quarter. Insight Inv LLC now owns 13,150 shares of the company’s stock worth $2,169,000 after acquiring an additional 425 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in PepsiCo by 0.9% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 23,053 shares of the company’s stock worth $3,802,000 after purchasing an additional 203 shares in the last quarter. Lane & Associates LLC increased its stake in PepsiCo by 8.0% in the 2nd quarter. Lane & Associates LLC now owns 2,475 shares of the company’s stock valued at $408,000 after buying an additional 184 shares during the last quarter. United Services Automobile Association lifted its position in shares of PepsiCo by 24.0% during the 2nd quarter. United Services Automobile Association now owns 423,731 shares of the company’s stock worth $69,886,000 after buying an additional 81,967 shares in the last quarter. Finally, Liberty Wealth Management LLC boosted its stake in shares of PepsiCo by 2,202.2% in the 2nd quarter. Liberty Wealth Management LLC now owns 75,442 shares of the company’s stock worth $12,443,000 after buying an additional 72,165 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $178.19 on Tuesday. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The business’s fifty day moving average is $171.27 and its 200 day moving average is $171.24. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market cap of $244.76 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The firm 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 company’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.04%. PepsiCo’s payout ratio is currently 78.66%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Jefferies Financial Group dropped their price target 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 cut their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Barclays raised their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Finally, BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Company 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.