Hill Island Financial LLC Sells 1,155 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hill Island Financial LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 46.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,357 shares of the company’s stock after selling 1,155 shares during the quarter. Hill Island Financial LLC’s holdings in PepsiCo were worth $224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strategy Asset Managers LLC raised its position in shares of PepsiCo by 0.9% during the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after purchasing an additional 57 shares during the last quarter. Meixler Investment Management Ltd. increased its position in PepsiCo by 4.4% during the second quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares in the last quarter. Opes Wealth Management LLC boosted 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 worth $453,000 after acquiring an additional 59 shares during the last quarter. Bank of Stockton grew its holdings in PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the period. Finally, Oxbow Advisors LLC increased its position in PepsiCo by 0.7% during the second 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. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEP. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Bank of America dropped their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Royal Bank of Canada reduced their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. BNP Paribas assumed 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. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Stock Performance

Shares of PEP opened at $177.21 on Tuesday. 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 $243.41 billion, a PE ratio of 25.72, a P/E/G ratio of 3.06 and a beta of 0.53. The firm has a 50-day moving average price of $172.67 and a 200 day moving average price of $171.57. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

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 paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 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.