PepsiCo, Inc. (NASDAQ:PEP) Holdings Trimmed by Northcape Wealth Management LLC

Northcape Wealth Management LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,110 shares of the company’s stock after selling 505 shares during the period. PepsiCo accounts for 2.2% of Northcape Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Northcape Wealth Management LLC’s holdings in PepsiCo were worth $5,970,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC lifted its position in PepsiCo by 0.9% during the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after acquiring an additional 57 shares during the last quarter. Amplius Wealth Advisors LLC raised its position in shares of PepsiCo by 2.8% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after buying an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of PepsiCo by 2.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp raised its position in shares of PepsiCo by 2.7% during the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after buying an additional 61 shares during the last quarter. Finally, Clearwater Capital Advisors LLC raised its position in shares of PepsiCo by 2.3% during the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock valued at $468,000 after buying an additional 61 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PEP. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Barclays cut their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. TD Cowen lowered their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wedbush reissued an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $186.64.

PepsiCo Price Performance

PepsiCo stock traded up $1.79 during trading hours on Friday, hitting $164.39. 4,208,217 shares of the stock were exchanged, compared to its average volume of 4,996,291. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The business’s 50-day moving average is $172.15 and its two-hundred day moving average is $170.10. The stock has a market capitalization of $226.00 billion, a P/E ratio of 24.72, a P/E/G ratio of 2.67 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. PepsiCo’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Friday, June 7th. PepsiCo’s dividend payout ratio is 81.50%.

About PepsiCo

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.