Reliant Investment Management LLC Sells 1,010 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Reliant Investment Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,038 shares of the company’s stock after selling 1,010 shares during the period. PepsiCo accounts for 2.5% of Reliant Investment Management LLC’s holdings, making the stock its 21st biggest position. Reliant Investment Management LLC’s holdings in PepsiCo were worth $5,257,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Amplius Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after buying an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in shares of PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after acquiring an additional 61 shares during the period. SYM FINANCIAL Corp increased its stake in shares of PepsiCo by 2.7% during the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after purchasing an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC lifted its stake in PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock valued at $468,000 after purchasing an additional 61 shares during the last quarter. Finally, Security Financial Services INC. lifted its stake in PepsiCo by 1.6% in the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock valued at $690,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Monday, March 18th. Wedbush restated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Finally, BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $186.38.

Insider Transactions at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction 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 $9,603,634. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

PepsiCo Trading Down 0.8 %

PepsiCo stock opened at $164.93 on Friday. The stock has a market cap of $226.74 billion, a P/E ratio of 24.80, a PEG ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The firm’s fifty day moving average price is $173.37 and its 200-day moving average price is $170.31. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86.

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

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is currently 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.