Forum Financial Management LP Sells 442 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Forum Financial Management LP lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,846 shares of the company’s stock after selling 442 shares during the period. Forum Financial Management LP’s holdings in PepsiCo were worth $1,476,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PEP. Brighton Jones LLC increased its holdings in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock valued at $71,527,000 after purchasing an additional 11,538 shares during the period. Proficio Capital Partners LLC boosted its position in shares of PepsiCo by 22.7% during the 4th quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company’s stock worth $677,000 after purchasing an additional 824 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of PepsiCo by 12.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 122,510 shares of the company’s stock worth $18,767,000 after purchasing an additional 13,857 shares in the last quarter. Finally, Brooklyn FI LLC bought a new position in PepsiCo in the 4th quarter valued at about $259,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 7.5%

Shares of PepsiCo stock opened at $145.44 on Friday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The business has a 50-day moving average of $131.97 and a two-hundred day moving average of $141.24. The company has a market capitalization of $199.41 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analysts’ expectations of $22.28 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $2.28 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $1.4225 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 3.91%. PepsiCo’s dividend payout ratio is presently 83.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research note on Thursday, July 10th. Cowen reaffirmed a “hold” rating on shares of PepsiCo in a report on Thursday. Bank of America lowered their price target on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of PepsiCo in a report on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $158.75.

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.