PepsiCo, Inc. $PEP Shares Sold by Shakespeare Wealth Management LLC

Shakespeare Wealth Management LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 20,088 shares of the company’s stock after selling 1,384 shares during the period. PepsiCo makes up 0.7% of Shakespeare Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Shakespeare Wealth Management LLC’s holdings in PepsiCo were worth $2,652,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after buying an additional 1,761,785 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PepsiCo by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock worth $4,301,240,000 after acquiring an additional 86,695 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after acquiring an additional 2,556,163 shares during the last quarter. Franklin Resources Inc. raised its position in shares of PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after acquiring an additional 2,541,455 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in PepsiCo by 1.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,525,812 shares of the company’s stock worth $1,728,180,000 after purchasing an additional 208,292 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PEP. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price for the company in a research note on Tuesday, October 21st. UBS Group lowered their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Citigroup dropped their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, The Goldman Sachs Group upped their target price on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $156.90.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $146.33 on Friday. The firm’s 50 day moving average is $145.37 and its two-hundred day moving average is $140.53. The firm has a market capitalization of $200.08 billion, a P/E ratio of 27.82, a PEG ratio of 3.56 and a beta of 0.45. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $165.13.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. During the same period in the prior year, the company posted $2.31 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

PepsiCo Company 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.