Summit Wealth & Retirement Planning Inc. Has $849,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Summit Wealth & Retirement Planning Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,475 shares of the company’s stock after selling 959 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in PepsiCo were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. Sigma Investment Counselors Inc. grew its position in shares of PepsiCo by 2.5% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 3,415 shares of the company’s stock worth $448,000 after buying an additional 82 shares during the period. Strategic Financial Group LLC grew its position in shares of PepsiCo by 2.7% during the 2nd quarter. Strategic Financial Group LLC now owns 3,242 shares of the company’s stock worth $425,000 after buying an additional 86 shares during the period. First Command Financial Services Inc. grew its position in shares of PepsiCo by 1.0% during the 2nd quarter. First Command Financial Services Inc. now owns 9,440 shares of the company’s stock worth $1,238,000 after buying an additional 95 shares during the period. ZWJ Investment Counsel Inc. grew its position in shares of PepsiCo by 1.0% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 9,586 shares of the company’s stock worth $1,257,000 after buying an additional 96 shares during the period. Finally, Stockman Wealth Management Inc. boosted its stake in PepsiCo by 0.5% during the 4th quarter. Stockman Wealth Management Inc. now owns 18,804 shares of the company’s stock worth $2,077,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.

PEP traded down $0.52 during trading on Thursday, reaching $131.82. The company had a trading volume of 68,225 shares, compared to its average volume of 4,560,547. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.86 and a quick ratio of 0.66. PepsiCo, Inc. has a 12 month low of $104.53 and a 12 month high of $135.24. The business’s fifty day moving average price is $130.86 and its 200 day moving average price is $125.56. The company has a market cap of $185.36 billion, a P/E ratio of 23.30, a PEG ratio of 3.44 and a beta of 0.60.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The business 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 $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, September 5th. PepsiCo’s payout ratio is currently 67.49%.

Several research firms recently weighed in on PEP. Jefferies Financial Group lifted their price objective on shares of PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a research note on Wednesday, July 10th. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. SunTrust Banks reissued a “hold” rating and set a $125.00 price objective on shares of PepsiCo in a research note on Wednesday, July 10th. Atlantic Securities began coverage on shares of PepsiCo in a research note on Monday, July 29th. They set an “overweight” rating and a $145.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on shares of PepsiCo from $137.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company’s stock. PepsiCo presently has a consensus rating of “Hold” and an average price target of $129.35.

In other news, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the sale, the chief executive officer now owns 54,920 shares of the company’s stock, valued at $7,356,534. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the sale, the chief executive officer now directly owns 105,350 shares in the company, valued at approximately $13,500,602.50. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

About PepsiCo

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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