Mezzasalma Advisors LLC Sells 335 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mezzasalma Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,300 shares of the company’s stock after selling 335 shares during the period. Mezzasalma Advisors LLC’s holdings in PepsiCo were worth $379,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in PepsiCo during the 4th quarter valued at $2,686,139,000. Flossbach Von Storch AG boosted its holdings in PepsiCo by 67.2% during 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 last quarter. PineStone Asset Management Inc. grew its position 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 purchasing an additional 1,523,631 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after buying an additional 1,345,065 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after acquiring an additional 1,179,922 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP traded up $0.79 during trading hours on Friday, hitting $172.88. 8,677,312 shares of the company’s stock traded hands, compared to its average volume of 5,453,207. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The firm has a market capitalization of $237.67 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.98 and a beta of 0.52. The business’s fifty day moving average price is $169.92 and its two-hundred day moving average price is $170.80.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $2.09 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PEP shares. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada reduced their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. TD Cowen lowered their price target 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. DZ Bank lowered 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. Finally, Morgan Stanley dropped their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Moderate Buy” and an average target price of $185.53.

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.