Bigelow Investment Advisors LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Bigelow Investment Advisors LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,023 shares of the company’s stock after selling 169 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in PepsiCo were worth $1,503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Johnson Investment Counsel Inc. lifted its position in PepsiCo by 4.7% during the first quarter. Johnson Investment Counsel Inc. now owns 518,317 shares of the company’s stock valued at $77,716,000 after purchasing an additional 23,361 shares in the last quarter. Aspiriant LLC boosted its stake in shares of PepsiCo by 4.9% in the first quarter. Aspiriant LLC now owns 18,943 shares of the company’s stock worth $2,840,000 after acquiring an additional 890 shares during the period. State of Alaska Department of Revenue grew its position in shares of PepsiCo by 2.2% during the first quarter. State of Alaska Department of Revenue now owns 200,851 shares of the company’s stock worth $30,114,000 after purchasing an additional 4,260 shares in the last quarter. CWA Asset Management Group LLC raised its stake in PepsiCo by 11.6% during the 1st quarter. CWA Asset Management Group LLC now owns 15,524 shares of the company’s stock valued at $2,328,000 after purchasing an additional 1,608 shares during the period. Finally, Warner Financial Inc. bought a new position in PepsiCo in the 1st quarter worth approximately $248,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $129.07 on Thursday. The stock has a market cap of $176.97 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The stock has a 50 day moving average price of $133.80 and a 200-day moving average price of $144.52. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.41%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo’s dividend payout ratio is presently 83.68%.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Bank of America reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Citigroup dropped their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. Dbs Bank cut PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Finally, Morgan Stanley dropped their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. One 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. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $160.69.

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.