PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the 1st quarter, HoldingsChannel reports. The fund owned 51,814 shares of the company’s stock after selling 663 shares during the quarter. LaFleur & Godfrey LLC’s holdings in PepsiCo were worth $7,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after acquiring an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after acquiring an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Norges Bank acquired a new position in shares of PepsiCo during the 4th quarter worth about $2,729,565,000. Finally, Northern Trust Corp lifted its holdings in shares of PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEP. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. Bank of America reduced their target price on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Morgan Stanley reduced their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Finally, UBS Group reduced their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $160.69.

PepsiCo Stock Performance

Shares of PEP stock opened at $129.09 on Tuesday. The company has a market cap of $176.99 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 3.71 and a beta of 0.46. The stock has a 50 day simple moving average of $132.83 and a 200-day simple moving average of $143.63. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP) last issued 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 58.28% and a net margin of 10.24%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the company posted $1.61 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.41%. This is an increase 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 83.68%.

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.