First City Capital Management Inc. Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

First City Capital Management Inc. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,274 shares of the company’s stock after selling 184 shares during the quarter. First City Capital Management Inc.’s holdings in PepsiCo were worth $1,035,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Advisors Ltd. LLC increased its holdings in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares in the last quarter. Norden Group LLC raised its position in shares of PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after purchasing an additional 174,171 shares during the period. Marion Wealth Management lifted its stake in shares of PepsiCo by 6.3% during the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after buying an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after buying an additional 11,485 shares in the last quarter. Finally, Meyer Handelman Co. raised its holdings in PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after acquiring an additional 9,465 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Barclays boosted their price target on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $185.53.

PepsiCo Trading Down 2.0 %

Shares of NASDAQ PEP opened at $171.18 on Friday. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The business has a fifty day simple moving average of $173.51 and a two-hundred day simple moving average of $171.81. The firm has a market cap of $235.13 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. Analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

PepsiCo 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.