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

Chesapeake Wealth Management lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,777 shares of the company’s stock after selling 241 shares during the period. Chesapeake Wealth Management’s holdings in PepsiCo were worth $953,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC lifted its stake in PepsiCo by 0.9% during the first 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. lifted its position in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the last quarter. Opes Wealth Management LLC boosted its holdings in shares of PepsiCo by 2.2% in the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares during the period. Bank of Stockton grew its position in shares of PepsiCo by 2.3% during the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after buying an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC raised its stake 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 acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEP. Bank of America lowered their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. DZ Bank downgraded 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. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday. Barclays increased 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. Finally, Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $185.53.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $171.18 on Friday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The firm has a market cap of $235.13 billion, a P/E ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53. The stock has a fifty day moving average price of $173.51 and a two-hundred day moving average price of $171.74. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last released its 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. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same period in the previous year, the company earned $2.09 earnings per share. PepsiCo’s revenue was up .8% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.17%. PepsiCo’s dividend payout ratio (DPR) is 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.