Grassi Investment Management Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Grassi Investment Management decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 38,000 shares of the company’s stock after selling 2,400 shares during the quarter. Grassi Investment Management’s holdings in PepsiCo were worth $7,038,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Essex Savings Bank boosted its holdings in shares of PepsiCo by 0.6% during the first quarter. Essex Savings Bank now owns 18,928 shares of the company’s stock worth $3,451,000 after purchasing an additional 107 shares during the last quarter. First Personal Financial Services grew its holdings in PepsiCo by 2.0% in the 1st quarter. First Personal Financial Services now owns 32,470 shares of the company’s stock valued at $5,919,000 after buying an additional 623 shares during the period. Warther Private Wealth LLC increased its stake in shares of PepsiCo by 7.4% during the 1st quarter. Warther Private Wealth LLC now owns 2,479 shares of the company’s stock valued at $452,000 after acquiring an additional 171 shares during the last quarter. Zuckerman Investment Group LLC boosted its position in shares of PepsiCo by 4.4% in the first quarter. Zuckerman Investment Group LLC now owns 1,831 shares of the company’s stock worth $334,000 after acquiring an additional 78 shares during the last quarter. Finally, Trinity Legacy Partners LLC grew its holdings in PepsiCo by 0.3% in the first quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock valued at $5,701,000 after purchasing an additional 93 shares during the period. 71.40% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ:PEP opened at $179.38 on Tuesday. PepsiCo, Inc. has a 1-year low of $160.98 and a 1-year high of $196.88. The company’s fifty day moving average is $182.67 and its two-hundred day moving average is $184.61. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.64 and a current ratio of 0.84. The stock has a market capitalization of $246.93 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.13. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The firm had revenue of $22.32 billion for the quarter, compared to analyst estimates of $21.73 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. PepsiCo’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 7.48 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a dividend of $1.265 per share. The ex-dividend date is Thursday, August 31st. This represents a $5.06 dividend on an annualized basis and a yield of 2.82%. PepsiCo’s payout ratio is currently 88.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PepsiCo from $193.00 to $195.00 in a research report on Friday, July 14th. Wedbush raised their target price on shares of PepsiCo from $200.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. Barclays decreased their price target on shares of PepsiCo from $206.00 to $198.00 in a research report on Monday, July 10th. Finally, Argus boosted their price objective on PepsiCo from $206.00 to $212.00 in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $192.00.

About PepsiCo

PepsiCo, Inc manufactures, markets, distributes, and sells 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.