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Procyon Advisors LLC Sells 627 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Procyon Advisors LLC Sells 627 Shares of PepsiCo, Inc. (NASDAQ:PEP) #Procyon #Advisors #LLC #Sells #Shares #PepsiCo #NASDAQPEP Welcome to Americanah Blog, here is the new story we have for you today:

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Procyon Advisors LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,261 shares of the company’s stock after selling 627 shares during the period. Procyon Advisors LLC’s holdings in PepsiCo were worth $3,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Cordant Inc. bought a new stake in shares of PepsiCo in the 1st quarter valued at about $27,000. Strategic Asset Management LLC boosted its position in PepsiCo by 53.3% during the 1st quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock valued at $46,000 after acquiring an additional 96 shares in the last quarter. Landmark Wealth Management LLC bought a new position in shares of PepsiCo in the 1st quarter worth $29,000. Retirement Group LLC lifted its stake in shares of PepsiCo by 100.0% during the 1st quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after purchasing an additional 161 shares during the last quarter. Finally, Lansing Street Advisors bought a new stake in PepsiCo during the first quarter valued at about $58,000. Institutional investors own 71.38% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $168.73 on Tuesday. PepsiCo, Inc. has a 52 week low of $149.48 and a 52 week high of $181.07. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.78. The firm has a market cap of $232.83 billion, a P/E ratio of 25.41, a P/E/G ratio of 3.27 and a beta of 0.55. The business’s 50 day moving average price is $173.45 and its 200 day moving average price is $170.50.

PepsiCo (NASDAQ:PEPGet Rating) last released its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.73 by $0.13. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The business had revenue of $20.23 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm earned $1.72 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 6.66 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. PepsiCo’s dividend payout ratio (DPR) is presently 69.28%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PEP. UBS Group decreased their price target on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a report on Thursday, July 7th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Credit Suisse Group boosted their target price on PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Finally, Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a report on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 3,433 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the transaction, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at $8,842,376.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the transaction, the chief executive officer now owns 70,892 shares of the company’s stock, valued at approximately $12,135,292.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the sale, the chief executive officer now owns 50,577 shares of the company’s stock, valued at $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

About PepsiCo

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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