City Holding Co. Sells 1,129 Shares of PepsiCo, Inc. (NASDAQ:PEP)

City Holding Co. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 32,860 shares of the company’s stock after selling 1,129 shares during the period. PepsiCo makes up 0.9% of City Holding Co.’s holdings, making the stock its 29th largest position. City Holding Co.’s holdings in PepsiCo were worth $5,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after buying an additional 578,083 shares during the period. Norges Bank acquired a new position in PepsiCo in the 4th quarter worth $2,686,139,000. California Public Employees Retirement System boosted its stake in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares during the period. Franklin Resources Inc. boosted its stake in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in PepsiCo by 15.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after purchasing an additional 1,105,127 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of recent research reports. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wedbush restated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Barclays reduced their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $186.15.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo 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 owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by insiders.

PepsiCo Price Performance

PepsiCo stock traded up $1.32 during mid-day trading on Monday, reaching $168.60. The company had a trading volume of 514,368 shares, compared to its average volume of 5,484,418. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. 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 cap of $231.79 billion, a P/E ratio of 25.15, a P/E/G ratio of 2.72 and a beta of 0.52. The business has a fifty day simple moving average of $173.71 and a 200 day simple moving average of $170.36.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. The firm 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%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 earnings per share. On average, equities research analysts predict that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

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.