Pflug Koory LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Pflug Koory LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,961 shares of the company’s stock after selling 187 shares during the quarter. Pflug Koory LLC’s holdings in PepsiCo were worth $1,568,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meyer Handelman Co. increased its position in shares of PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after acquiring an additional 9,465 shares during the period. Aurora Investment Managers LLC. increased its position in shares of PepsiCo by 82.3% during the first quarter. Aurora Investment Managers LLC. now owns 7,505 shares of the company’s stock worth $1,313,000 after acquiring an additional 3,388 shares during the period. RFG Advisory LLC increased its position in shares of PepsiCo by 11.7% during the first quarter. RFG Advisory LLC now owns 16,846 shares of the company’s stock worth $2,948,000 after acquiring an additional 1,758 shares during the period. Financiere des Professionnels Fonds d investissement inc. increased its position in shares of PepsiCo by 136.4% during the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 11,730 shares of the company’s stock worth $2,053,000 after acquiring an additional 6,769 shares during the period. Finally, Eldred Rock Partners LLC increased its holdings in PepsiCo by 1.0% during the first quarter. Eldred Rock Partners LLC now owns 34,788 shares of the company’s stock valued at $6,088,000 after buying an additional 346 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. Barclays cut their price objective 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. Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley raised 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Moderate Buy” and an average price target of $187.17.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

PepsiCo Trading Up 0.4 %

NASDAQ:PEP opened at $167.28 on Friday. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The firm has a fifty day simple moving average of $173.71 and a 200-day simple moving average of $170.34. 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 company has a market capitalization of $229.97 billion, a P/E ratio of 25.15, a PEG ratio of 2.72 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, June 7th. PepsiCo’s payout ratio is presently 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.