Great Lakes Advisors LLC Sells 10,591 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Great Lakes Advisors LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 502,583 shares of the company’s stock after selling 10,591 shares during the period. Great Lakes Advisors LLC’s holdings in PepsiCo were worth $82,891,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Gilbert & Cook Inc. lifted its position in PepsiCo by 23.4% during the fourth quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock valued at $1,014,000 after buying an additional 1,133 shares during the period. Aveo Capital Partners LLC grew its holdings in PepsiCo by 4.4% in the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after purchasing an additional 229 shares during the period. 9258 Wealth Management LLC increased its stake in shares of PepsiCo by 56.0% during the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock valued at $1,407,000 after purchasing an additional 2,974 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of PepsiCo by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock worth $1,357,000 after purchasing an additional 3,635 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of PepsiCo by 3.0% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,767 shares of the company’s stock worth $4,886,000 after buying an additional 833 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP traded down $0.60 on Friday, hitting $177.34. 6,395,276 shares of the company traded hands, compared to its average volume of 5,471,998. The business’s 50 day moving average price is $170.96 and its 200-day moving average price is $171.13. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $243.59 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 2.98 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. Equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.06%. PepsiCo’s payout ratio is 78.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PEP. Morgan Stanley lowered their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Bank of America cut their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.53.

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.