Birch Hill Investment Advisors LLC Sells 9,496 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Birch Hill Investment Advisors LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,364 shares of the company’s stock after selling 9,496 shares during the period. Birch Hill Investment Advisors LLC’s holdings in PepsiCo were worth $10,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. TAGStone Capital Inc. grew its position in PepsiCo by 2.8% in the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares in the last quarter. Lokken Investment Group LLC grew its position in PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock worth $1,171,000 after purchasing an additional 70 shares in the last quarter. Legacy Financial Group LLC grew its position in PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after purchasing an additional 71 shares in the last quarter. Atlantic Private Wealth LLC grew its position in PepsiCo by 37.5% in the 4th quarter. Atlantic Private Wealth LLC now owns 275 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Finally, Pflug Koory LLC grew its position in PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock worth $1,162,000 after purchasing an additional 76 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PEP shares. Citigroup reduced their target price 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. UBS Group reduced their target price on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Morgan Stanley reduced their target price on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Finally, Barclays reduced their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $160.69.

PepsiCo Stock Performance

PepsiCo stock opened at $129.29 on Wednesday. The firm’s fifty day moving average price is $134.13 and its 200-day moving average price is $144.63. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The stock has a market cap of $177.27 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 3.77 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. PepsiCo’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 4.40%. The ex-dividend date is Friday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

PepsiCo 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.