PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,402 shares of the company’s stock after selling 173 shares during the quarter. SteelPeak Wealth LLC’s holdings in PepsiCo were worth $1,659,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Breakwater Capital Group raised its holdings in PepsiCo by 2.3% in the 1st quarter. Breakwater Capital Group now owns 4,552 shares of the company’s stock valued at $797,000 after buying an additional 104 shares during the period. Sandy Cove Advisors LLC raised its stake in shares of PepsiCo by 29.5% in the 1st quarter. Sandy Cove Advisors LLC now owns 4,621 shares of the company’s stock valued at $809,000 after acquiring an additional 1,054 shares during the period. D.B. Root & Company LLC boosted its position in shares of PepsiCo by 38.4% during the 1st quarter. D.B. Root & Company LLC now owns 4,112 shares of the company’s stock worth $720,000 after purchasing an additional 1,140 shares during the period. Trilogy Capital Inc. increased its holdings in PepsiCo by 40.9% in the 1st quarter. Trilogy Capital Inc. now owns 3,315 shares of the company’s stock valued at $580,000 after purchasing an additional 962 shares during the last quarter. Finally, Red Door Wealth Management LLC raised its position in PepsiCo by 7.7% in the first quarter. Red Door Wealth Management LLC now owns 28,275 shares of the company’s stock valued at $4,948,000 after purchasing an additional 2,012 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.8 %

NASDAQ PEP opened at $164.93 on Monday. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The company has a market capitalization of $226.74 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.71 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The firm’s fifty day moving average price is $173.37 and its 200 day moving average price is $170.30.

PepsiCo (NASDAQ:PEP) last posted its 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. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.50 EPS. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.29%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is presently 81.50%.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was 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 directly 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 can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Barclays cut their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 26th. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.38.

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.