Commonwealth Retirement Investments LLC Sells 753 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Commonwealth Retirement Investments LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,062 shares of the company’s stock after selling 753 shares during the period. PepsiCo accounts for about 1.6% of Commonwealth Retirement Investments LLC’s investment portfolio, making the stock its 18th biggest position. Commonwealth Retirement Investments LLC’s holdings in PepsiCo were worth $3,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PEP. Asset Management One Co. Ltd. lifted its holdings in PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company’s stock valued at $94,598,000 after buying an additional 21,859 shares during the period. Ignite Planners LLC lifted its holdings in PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company’s stock valued at $566,000 after buying an additional 151 shares during the period. Ossiam lifted its holdings in PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company’s stock valued at $11,192,000 after buying an additional 42,793 shares during the period. Graybill Wealth Management LTD. acquired a new position in PepsiCo in the first quarter valued at approximately $3,633,000. Finally, OMERS ADMINISTRATION Corp lifted its holdings in PepsiCo by 12.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock valued at $18,977,000 after buying an additional 13,461 shares during the period. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEP. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of PepsiCo in a report on Thursday, July 17th. Wells Fargo & Company increased their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. Citigroup increased their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the company a “buy” rating in a report on Friday, July 18th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research note on Thursday, April 24th. Finally, Dbs Bank downgraded shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $158.73.

PepsiCo Stock Up 0.2%

Shares of PEP stock opened at $139.56 on Tuesday. The firm has a fifty day moving average of $134.83 and a 200-day moving average of $140.77. 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, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The company has a market capitalization of $191.07 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 3.71 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. PepsiCo’s dividend payout ratio is currently 103.64%.

About PepsiCo

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.