Nemes Rush Group LLC Sells 440 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Nemes Rush Group LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,003 shares of the company’s stock after selling 440 shares during the quarter. Nemes Rush Group LLC’s holdings in PepsiCo were worth $660,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PEP. Flossbach Von Storch AG increased its stake in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the period. PineStone Asset Management Inc. increased its stake in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after buying an additional 1,523,631 shares during the period. Van ECK Associates Corp lifted its holdings in PepsiCo by 429.3% during the 1st quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after buying an additional 1,179,922 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in PepsiCo in the 1st quarter valued at about $166,243,000. Finally, Legal & General Group Plc increased its position in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. 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. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. TD Cowen dropped their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company reduced their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $185.53.

PepsiCo Trading Up 0.2 %

PepsiCo stock opened at $170.00 on Friday. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The stock has a market cap of $233.51 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. 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 stock has a 50-day moving average of $173.77 and a two-hundred day moving average of $172.04.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The company 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%. PepsiCo’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company 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 dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.19%. PepsiCo’s dividend payout ratio is currently 78.66%.

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.