Cornerstone Advisory LLC Has $875,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Advisory LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,839 shares of the company’s stock after selling 127 shares during the quarter. Cornerstone Advisory LLC’s holdings in PepsiCo were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the 4th quarter valued at $28,000. Elite Financial Inc. acquired a new position in PepsiCo during the 1st quarter valued at $28,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo during the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo during the 4th quarter valued at $31,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo during the 4th quarter valued at $33,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.7%

PEP opened at $143.45 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $196.39 billion, a PE ratio of 26.13, a PEG ratio of 3.82 and a beta of 0.45. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The firm has a 50-day moving average price of $133.58 and a two-hundred day moving average price of $140.99.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion during the quarter, compared to analysts’ expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.28 EPS. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, September 5th. PepsiCo’s payout ratio is presently 103.64%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEP shares. Citigroup upped their target price on shares of PepsiCo from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Barclays boosted their price target on shares of PepsiCo from $132.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Finally, Wells Fargo & Company boosted their price target on shares of PepsiCo from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price of $158.73.

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.