Prossimo Advisors LLC Reduces Holdings in PepsiCo, Inc. $PEP

Prossimo Advisors LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 14.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,619 shares of the company’s stock after selling 1,117 shares during the quarter. Prossimo Advisors LLC’s holdings in PepsiCo were worth $874,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. River Road Asset Management LLC lifted its stake in PepsiCo by 3.2% during the 2nd quarter. River Road Asset Management LLC now owns 57,412 shares of the company’s stock worth $7,918,000 after acquiring an additional 1,773 shares in the last quarter. Hamel Associates Inc. raised its holdings in PepsiCo by 6.1% in the second quarter. Hamel Associates Inc. now owns 12,098 shares of the company’s stock valued at $1,598,000 after acquiring an additional 695 shares in the last quarter. VestGen Advisors LLC lifted its stake in PepsiCo by 2.1% in the second quarter. VestGen Advisors LLC now owns 12,300 shares of the company’s stock worth $1,655,000 after acquiring an additional 256 shares during the last quarter. Estabrook Capital Management increased its position in shares of PepsiCo by 33.8% in the 2nd quarter. Estabrook Capital Management now owns 23,738 shares of the company’s stock valued at $3,134,000 after purchasing an additional 5,999 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments lifted its position in shares of PepsiCo by 20.6% during the 2nd quarter. BLI Banque de Luxembourg Investments now owns 517,943 shares of the company’s stock worth $67,854,000 after purchasing an additional 88,370 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Jefferies Financial Group boosted their target price on PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, September 11th. Rothschild & Co Redburn lifted their price target on shares of PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, Loop Capital set a $164.00 target price on PepsiCo in a report on Thursday, October 23rd. Seven investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $156.90.

PepsiCo Trading Up 0.6%

Shares of PEP opened at $148.91 on Monday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $163.65. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $203.61 billion, a P/E ratio of 28.31, a PEG ratio of 3.56 and a beta of 0.45. The firm’s 50-day moving average is $146.01 and its two-hundred day moving average is $141.18.

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

PepsiCo Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio is presently 108.17%.

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.