Cypress Asset Management Inc. TX Sells 4,270 Shares of PepsiCo, Inc. (PEP)

Cypress Asset Management Inc. TX lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,525 shares of the company’s stock after selling 4,270 shares during the quarter. PepsiCo comprises approximately 2.5% of Cypress Asset Management Inc. TX’s holdings, making the stock its 4th largest holding. Cypress Asset Management Inc. TX’s holdings in PepsiCo were worth $8,331,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PEP. Heritage Way Advisors LLC increased its holdings in PepsiCo by 2.6% in the 2nd quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock valued at $1,913,000 after buying an additional 450 shares during the period. Investment House LLC increased its holdings in PepsiCo by 0.8% in the 2nd quarter. Investment House LLC now owns 59,730 shares of the company’s stock valued at $6,503,000 after buying an additional 471 shares during the period. White Pine Capital LLC increased its holdings in PepsiCo by 2.5% in the 4th quarter. White Pine Capital LLC now owns 19,993 shares of the company’s stock valued at $2,398,000 after buying an additional 480 shares during the period. Thompson Investment Management Inc. increased its holdings in PepsiCo by 1.4% in the 2nd quarter. Thompson Investment Management Inc. now owns 33,809 shares of the company’s stock valued at $3,681,000 after buying an additional 480 shares during the period. Finally, Trust Co. of Toledo NA OH increased its holdings in PepsiCo by 1.1% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 45,803 shares of the company’s stock valued at $4,986,000 after buying an additional 484 shares during the period. 70.49% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have issued reports on PEP. BidaskClub raised shares of PepsiCo from a “sell” rating to a “hold” rating in a report on Saturday. TheStreet raised shares of PepsiCo from a “c+” rating to a “b-” rating in a report on Friday, July 6th. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. ValuEngine raised shares of PepsiCo from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Citigroup boosted their price target on shares of PepsiCo from $111.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $119.50.

Shares of NASDAQ:PEP opened at $114.57 on Friday. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market capitalization of $161.02 billion, a PE ratio of 21.91, a PEG ratio of 2.68 and a beta of 0.66.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, July 10th. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.08. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The company had revenue of $16.09 billion for the quarter, compared to the consensus estimate of $16.05 billion. During the same quarter in the previous year, the company earned $1.50 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. sell-side analysts forecast that PepsiCo, Inc. will post 5.69 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be paid a $0.9275 dividend. The ex-dividend date is Thursday, September 6th. This represents a $3.71 annualized dividend and a dividend yield of 3.24%. PepsiCo’s dividend payout ratio is presently 70.94%.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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