Focused Investors LLC Sells 18,200 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Focused Investors LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the first quarter, HoldingsChannel reports. The fund owned 533,550 shares of the company’s stock after selling 18,200 shares during the quarter. PepsiCo comprises 2.6% of Focused Investors LLC’s holdings, making the stock its 20th biggest position. Focused Investors LLC’s holdings in PepsiCo were worth $80,000,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. WealthTrak Capital Management LLC bought a new position in PepsiCo in the 4th quarter valued at $28,000. Elite Financial Inc. bought a new position in shares of PepsiCo during the 1st quarter valued at about $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $30,000. Measured Risk Portfolios Inc. bought a new position in shares of PepsiCo during the fourth quarter valued at about $31,000. Finally, Summit Securities Group LLC bought a new stake in PepsiCo during the 4th quarter valued at $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup decreased their price target on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Bank of America dropped their price target on PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday. Morgan Stanley lowered their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $158.19.

PepsiCo Trading Down 0.6%

PEP opened at $135.26 on Monday. The firm has a market cap of $185.45 billion, a P/E ratio of 19.89, a P/E/G ratio of 4.23 and a beta of 0.45. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The stock has a 50-day moving average of $131.49 and a 200 day moving average of $141.50. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (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 during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business earned $1.61 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.21%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. PepsiCo’s payout ratio is 83.68%.

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.