Towerpoint Wealth LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Towerpoint Wealth LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.8% during the 1st quarter, HoldingsChannel reports. The fund owned 1,809 shares of the company’s stock after selling 112 shares during the quarter. Towerpoint Wealth LLC’s holdings in PepsiCo were worth $317,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PEP. Procyon Advisors LLC grew its position in PepsiCo by 54.6% during the 1st quarter. Procyon Advisors LLC now owns 39,692 shares of the company’s stock worth $6,946,000 after acquiring an additional 14,020 shares during the last quarter. Cardinal Capital Management grew its holdings in shares of PepsiCo by 5.4% in the first quarter. Cardinal Capital Management now owns 30,982 shares of the company’s stock worth $5,459,000 after purchasing an additional 1,590 shares during the last quarter. ERn Financial LLC increased its stake in shares of PepsiCo by 2.3% in the first quarter. ERn Financial LLC now owns 5,924 shares of the company’s stock worth $1,037,000 after buying an additional 136 shares during the period. Franklin Street Advisors Inc. NC raised its holdings in PepsiCo by 12.6% during the 1st quarter. Franklin Street Advisors Inc. NC now owns 6,270 shares of the company’s stock valued at $1,097,000 after buying an additional 700 shares during the last quarter. Finally, Graybill Wealth Management LTD. boosted its position in PepsiCo by 2.7% during the 1st quarter. Graybill Wealth Management LTD. now owns 16,539 shares of the company’s stock valued at $2,894,000 after buying an additional 441 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Insider Activity at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by insiders.

PepsiCo Trading Down 0.3 %

NASDAQ:PEP opened at $166.26 on Friday. The firm has a market capitalization of $228.57 billion, a P/E ratio of 25.00, a PEG ratio of 2.74 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38. The company’s 50-day simple moving average is $173.68 and its 200 day simple moving average is $170.35.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 EPS. As a group, analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $1.355 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.26%. PepsiCo’s payout ratio is presently 81.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PEP shares. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group upped their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. BNP Paribas assumed coverage on PepsiCo in a research report on Monday. They issued a “neutral” rating and a $174.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. Finally, Barclays cut their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $186.38.

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.