Successful Portfolios LLC Sells 120 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Successful Portfolios LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,199 shares of the company’s stock after selling 120 shares during the period. Successful Portfolios LLC’s holdings in PepsiCo were worth $735,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Amplius Wealth Advisors LLC raised its holdings in shares of PepsiCo by 2.8% in the fourth 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 raised its holdings in shares of PepsiCo by 2.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp raised its holdings in shares of PepsiCo by 2.7% during the fourth 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 raised its holdings in shares of PepsiCo by 2.3% during the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after purchasing an additional 61 shares during the last quarter. Finally, Security Financial Services INC. raised its holdings in shares of PepsiCo by 1.6% during the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after purchasing an additional 61 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $9,603,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

PepsiCo Trading Down 1.2 %

Shares of PEP stock opened at $162.89 on Tuesday. 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, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The stock has a market capitalization of $223.94 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.52. The company has a 50 day moving average price of $173.37 and a 200 day moving average price of $170.30.

PepsiCo (NASDAQ:PEP) last posted its quarterly 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. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.33%. 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 81.50%.

Analyst Ratings Changes

Several brokerages recently issued reports on PEP. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a report on Monday, March 18th. Jefferies Financial Group raised their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Barclays dropped their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $186.38.

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.