Source Financial Advisors LLC Sells 327 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Source Financial Advisors LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 14.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,972 shares of the company’s stock after selling 327 shares during the quarter. Source Financial Advisors LLC’s holdings in PepsiCo were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. LFA Lugano Financial Advisors SA raised its holdings in PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after purchasing an additional 70 shares during the period. Valued Wealth Advisors LLC raised its holdings in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. Fortis Group Advisors LLC raised its holdings in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the period. Life Planning Partners Inc acquired a new stake in shares of PepsiCo during the fourth quarter worth $34,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $35,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEP. Jefferies Financial Group raised their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Monday, March 18th. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Finally, TD Cowen lowered their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.64.

PepsiCo Stock Performance

Shares of PEP traded up $1.79 during midday trading on Friday, reaching $164.39. The stock had a trading volume of 4,208,217 shares, compared to its average volume of 4,996,291. The firm has a market cap of $226.00 billion, a PE ratio of 24.72, a P/E/G ratio of 2.67 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a 50 day simple moving average of $172.15 and a 200-day simple moving average of $170.10. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38.

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

PepsiCo Increases Dividend

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

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s 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 sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

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.