Dillon & Associates Inc. Sells 5,215 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Dillon & Associates Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.3% in the first quarter, HoldingsChannel reports. The fund owned 65,898 shares of the company’s stock after selling 5,215 shares during the period. PepsiCo accounts for approximately 1.5% of Dillon & Associates Inc.’s investment portfolio, making the stock its 20th largest holding. Dillon & Associates Inc.’s holdings in PepsiCo were worth $9,885,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Elite Financial Inc. acquired a new position in PepsiCo in the first quarter valued at about $28,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo in the fourth quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new position in PepsiCo in the fourth quarter valued at about $38,000. Bridge Generations Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter valued at about $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in PepsiCo in the fourth quarter valued at about $47,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $145.21 on Monday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $179.73. The firm has a market capitalization of $198.80 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 3.87 and a beta of 0.45. The stock’s 50 day moving average price is $135.71 and its two-hundred day moving average price is $140.60. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The business had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter last year, the firm posted $2.28 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, September 5th. PepsiCo’s dividend payout ratio (DPR) is 103.64%.

Analyst Ratings Changes

A number of research analysts have issued reports on PEP shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $148.00 target price on shares of PepsiCo in a research note on Tuesday, June 24th. Barclays upped their price objective on PepsiCo from $132.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Monday, July 21st. Bank of America reduced their price objective on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, July 11th. Citigroup upped their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Wells Fargo & Company upped their price objective on PepsiCo from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.73.

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.