PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,350 shares of the company’s stock after selling 839 shares during the period. Elmwood Wealth Management Inc.’s holdings in PepsiCo were worth $1,402,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after buying an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock worth $71,527,000 after acquiring an additional 11,538 shares in the last quarter. Victory Capital Management Inc. raised its position in PepsiCo by 1.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,133,762 shares of the company’s stock worth $324,460,000 after acquiring an additional 33,943 shares during the period. Wealth Advisory Solutions LLC lifted its holdings in PepsiCo by 10.1% during the fourth quarter. Wealth Advisory Solutions LLC now owns 1,732 shares of the company’s stock valued at $264,000 after purchasing an additional 159 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $471,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. UBS Group decreased their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. 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. JPMorgan Chase & Co. lifted their price target on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. Finally, Citigroup lowered their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $159.75.

PepsiCo Stock Up 0.9%

PEP stock opened at $136.48 on Thursday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The firm has a market cap of $187.12 billion, a PE ratio of 20.07, a PEG ratio of 4.23 and a beta of 0.45. The firm’s 50 day moving average price is $131.36 and its 200-day moving average price is $142.54. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83.

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

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) 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.