InTrack Investment Management Inc Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

InTrack Investment Management Inc reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,722 shares of the company’s stock after selling 103 shares during the quarter. PepsiCo comprises approximately 1.0% of InTrack Investment Management Inc’s holdings, making the stock its 29th largest position. InTrack Investment Management Inc’s holdings in PepsiCo were worth $1,351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. LFA Lugano Financial Advisors SA raised its holdings in PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after acquiring an additional 70 shares during the last quarter. Fortis Group Advisors LLC lifted its holdings in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of PepsiCo during the fourth quarter valued at $34,000. Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo in the 1st quarter worth about $35,000. Finally, Naples Money Management LLC bought a new position in PepsiCo during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.4 %

Shares of NASDAQ PEP opened at $163.58 on Wednesday. The stock has a market capitalization of $224.89 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month 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 firm’s 50-day moving average price is $173.10 and its 200-day moving average price is $170.26.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is 81.50%.

Insider Activity

In other 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 sale, the chief executive officer now directly 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 can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Jefferies Financial Group increased their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Barclays lowered their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, BNP Paribas initiated coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.