City Holding Co. Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

City Holding Co. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,879 shares of the company’s stock after selling 1,806 shares during the quarter. City Holding Co.’s holdings in PepsiCo were worth $4,330,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Ossiam increased its stake in shares of PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company’s stock valued at $11,192,000 after acquiring an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp raised its stake in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock worth $18,977,000 after purchasing an additional 13,461 shares during the period. Hutner Capital Management Inc. boosted its holdings in shares of PepsiCo by 14.6% in the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock valued at $8,178,000 after purchasing an additional 6,865 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new stake in shares of PepsiCo during the 4th quarter worth $47,899,000. Finally, WCM Investment Management LLC raised its position in shares of PepsiCo by 147.6% in the 4th quarter. WCM Investment Management LLC now owns 14,692 shares of the company’s stock worth $2,229,000 after buying an additional 8,759 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $130.03 on Monday. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market capitalization of $178.28 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. The firm’s fifty day moving average price is $136.15 and its 200 day moving average price is $146.06.

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

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.38%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio is presently 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $163.00 price target on shares of PepsiCo in a research report on Tuesday, April 22nd. Barclays decreased their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. Citigroup decreased their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.