PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,625 shares of the company’s stock after selling 6,423 shares during the period. Granite Investment Partners LLC’s holdings in PepsiCo were worth $11,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jacobi Capital Management LLC lifted its holdings in shares of PepsiCo by 0.3% in the third quarter. Jacobi Capital Management LLC now owns 16,722 shares of the company’s stock valued at $2,730,000 after purchasing an additional 58 shares in the last quarter. Wealth Advisory Solutions LLC lifted its holdings in shares of PepsiCo by 1.7% in the third quarter. Wealth Advisory Solutions LLC now owns 3,545 shares of the company’s stock valued at $579,000 after purchasing an additional 59 shares in the last quarter. Hofer & Associates. Inc lifted its holdings in shares of PepsiCo by 2.7% in the third quarter. Hofer & Associates. Inc now owns 2,319 shares of the company’s stock valued at $379,000 after purchasing an additional 60 shares in the last quarter. One Plus One Wealth Management LLC lifted its holdings in shares of PepsiCo by 2.0% in the fourth quarter. One Plus One Wealth Management LLC now owns 3,115 shares of the company’s stock valued at $563,000 after purchasing an additional 60 shares in the last quarter. Finally, D Orazio & Associates Inc. lifted its holdings in shares of PepsiCo by 0.8% in the fourth quarter. D Orazio & Associates Inc. now owns 7,355 shares of the company’s stock valued at $1,331,000 after purchasing an additional 60 shares in the last quarter. 70.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PepsiCo news, CEO Ramkumar Krishnan sold 16,827 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $172.70, for a total transaction of $2,906,022.90. Following the completion of the transaction, the chief executive officer now owns 49,000 shares of the company’s stock, valued at $8,462,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert C. Pohlad sold 75,000 shares of PepsiCo stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $172.47, for a total transaction of $12,935,250.00. Following the transaction, the director now owns 183,929 shares in the company, valued at approximately $31,722,234.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ramkumar Krishnan sold 16,827 shares of PepsiCo stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $172.70, for a total transaction of $2,906,022.90. Following the transaction, the chief executive officer now owns 49,000 shares in the company, valued at approximately $8,462,300. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $0.18 during mid-day trading on Friday, hitting $183.62. 1,207,592 shares of the stock were exchanged, compared to its average volume of 4,391,929. PepsiCo, Inc. has a 12 month low of $154.86 and a 12 month high of $196.88. The company has a 50-day simple moving average of $187.60 and a 200 day simple moving average of $179.52. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.65 and a current ratio of 0.87. The company has a market capitalization of $252.97 billion, a P/E ratio of 38.71, a P/E/G ratio of 3.23 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The company had revenue of $17.85 billion for the quarter, compared to analysts’ expectations of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. PepsiCo’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. Sell-side analysts anticipate that PepsiCo, Inc. will post 7.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be paid a $1.265 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 annualized dividend and a yield of 2.76%. PepsiCo’s payout ratio is currently 96.84%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEP. Morgan Stanley upped their target price on PepsiCo from $200.00 to $210.00 in a research report on Tuesday, April 25th. Citigroup assumed coverage on PepsiCo in a research report on Thursday, February 16th. They issued a “neutral” rating and a $180.00 target price on the stock. StockNews.com assumed coverage on PepsiCo in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Barclays increased their price target on PepsiCo from $201.00 to $206.00 in a research report on Thursday, April 27th. Finally, UBS Group increased their price target on PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $190.25.

About PepsiCo

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).