PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Bay Rivers Group

Bay Rivers Group decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 8.9% during the 1st quarter, Holdings Channel reports. The fund owned 5,087 shares of the company’s stock after selling 496 shares during the quarter. Bay Rivers Group’s holdings in PepsiCo were worth $763,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Warren Street Wealth Advisors LLC purchased a new stake in shares of PepsiCo during the 1st quarter worth approximately $218,000. Matrix Trust Co lifted its position in shares of PepsiCo by 6.4% during the 1st quarter. Matrix Trust Co now owns 7,725 shares of the company’s stock worth $1,158,000 after buying an additional 464 shares during the last quarter. Johnson & White Wealth Management LLC lifted its position in shares of PepsiCo by 6.8% during the 1st quarter. Johnson & White Wealth Management LLC now owns 5,730 shares of the company’s stock worth $859,000 after buying an additional 364 shares during the last quarter. Portside Wealth Group LLC lifted its position in shares of PepsiCo by 12.6% during the 1st quarter. Portside Wealth Group LLC now owns 10,565 shares of the company’s stock worth $1,607,000 after buying an additional 1,184 shares during the last quarter. Finally, Teamwork Financial Advisors LLC purchased a new stake in shares of PepsiCo during the 1st quarter worth approximately $1,429,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $131.74 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a market capitalization of $180.63 billion, a P/E ratio of 18.96, a P/E/G ratio of 3.09 and a beta of 0.47. The company’s fifty day moving average is $136.92 and its two-hundred day moving average is $146.62. PepsiCo, Inc. has a 1 year low of $127.75 and a 1 year high of $180.91.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $1.4225 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.32%. The ex-dividend date is Friday, June 6th. PepsiCo’s payout ratio is currently 83.68%.

Analyst Ratings Changes

Several analysts have recently weighed in on PEP shares. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Citigroup reduced their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Dbs Bank downgraded shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Barclays cut their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Finally, Bank of America cut their target price on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $160.69.

PepsiCo Company 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.