Abner Herrman & Brock LLC Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Abner Herrman & Brock LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,351 shares of the company’s stock after selling 4,045 shares during the quarter. PepsiCo makes up about 2.7% of Abner Herrman & Brock LLC’s portfolio, making the stock its 11th biggest position. Abner Herrman & Brock LLC’s holdings in PepsiCo were worth $14,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. BlackRock Inc. boosted its position in PepsiCo by 2.6% in the first quarter. BlackRock Inc. now owns 109,109,695 shares of the company’s stock valued at $13,104,075,000 after buying an additional 2,724,092 shares during the last quarter. State Street Corp boosted its position in PepsiCo by 0.4% in the 1st quarter. State Street Corp now owns 66,071,399 shares of the company’s stock worth $7,935,175,000 after purchasing an additional 291,943 shares in the last quarter. Geode Capital Management LLC boosted its position in PepsiCo by 0.9% in the 1st quarter. Geode Capital Management LLC now owns 20,644,181 shares of the company’s stock worth $2,474,489,000 after purchasing an additional 185,460 shares in the last quarter. Bank of New York Mellon Corp boosted its position in PepsiCo by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 19,594,314 shares of the company’s stock worth $2,353,277,000 after purchasing an additional 195,427 shares in the last quarter. Finally, Norges Bank purchased a new stake in PepsiCo in the 4th quarter worth approximately $1,985,537,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

PEP traded up $0.46 during trading hours on Friday, hitting $133.17. 163,066 shares of the company’s stock were exchanged, compared to its average volume of 4,630,275. PepsiCo, Inc. has a 12-month low of $101.42 and a 12-month high of $147.20. The firm has a 50 day moving average of $131.41 and a 200 day moving average of $133.86. The firm has a market cap of $186.23 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 5.14 and a beta of 0.58. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 2.61.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.04. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The company had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $13.20 billion. During the same period in the prior year, the firm posted $0.97 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts expect that PepsiCo, Inc. will post 5.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were given a $1.0225 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This is an increase from PepsiCo’s previous quarterly dividend of $0.96. This represents a $4.09 dividend on an annualized basis and a dividend yield of 3.07%. PepsiCo’s dividend payout ratio is currently 73.96%.

Several equities research analysts have commented on PEP shares. DZ Bank restated a “buy” rating and issued a $136.00 price objective on shares of PepsiCo in a research report on Thursday, March 26th. Cfra upped their price objective on PepsiCo from $145.00 to $150.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 28th. Deutsche Bank lowered their price objective on PepsiCo from $145.00 to $143.00 and set a “hold” rating on the stock in a research report on Thursday, March 12th. Barclays reaffirmed a “hold” rating and set a $136.00 target price on shares of PepsiCo in a research note on Friday, April 17th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of PepsiCo in a research note on Wednesday, May 13th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $142.06.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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