Griffin Asset Management Inc. Sells 1,262 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Griffin Asset Management Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,317 shares of the company’s stock after selling 1,262 shares during the period. Griffin Asset Management Inc.’s holdings in PepsiCo were worth $3,233,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. RDA Financial Network raised its position in shares of PepsiCo by 1.7% in the 1st quarter. RDA Financial Network now owns 4,450 shares of the company’s stock worth $745,000 after acquiring an additional 76 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of PepsiCo by 3.9% in the 1st quarter. Wedge Capital Management L L P NC now owns 2,585 shares of the company’s stock worth $433,000 after acquiring an additional 98 shares in the last quarter. Marietta Wealth Management LLC raised its position in shares of PepsiCo by 0.6% in the 1st quarter. Marietta Wealth Management LLC now owns 37,768 shares of the company’s stock worth $6,322,000 after acquiring an additional 216 shares in the last quarter. LifeSteps Financial Inc. grew its stake in shares of PepsiCo by 18.7% in the 1st quarter. LifeSteps Financial Inc. now owns 2,409 shares of the company’s stock valued at $403,000 after buying an additional 379 shares during the period. Finally, First American Trust FSB grew its stake in shares of PepsiCo by 9.0% in the 1st quarter. First American Trust FSB now owns 4,817 shares of the company’s stock valued at $806,000 after buying an additional 398 shares during the period. 72.12% of the stock is owned by institutional investors and hedge funds.

Shares of PepsiCo stock opened at $162.03 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 1.89. PepsiCo, Inc. has a 12-month low of $144.61 and a 12-month high of $177.62. The firm has a market capitalization of $224.04 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 3.19 and a beta of 0.59. The firm’s 50 day simple moving average is $166.98 and its two-hundred day simple moving average is $168.10.

PepsiCo (NASDAQ:PEPGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.24 by $0.05. The business had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.54 billion. PepsiCo had a net margin of 12.57% and a return on equity of 53.44%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 6.64 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 3rd will be issued a dividend of $1.15 per share. The ex-dividend date is Thursday, June 2nd. This is an increase from PepsiCo’s previous quarterly dividend of $1.08. This represents a $4.60 dividend on an annualized basis and a yield of 2.84%. PepsiCo’s dividend payout ratio is 62.93%.

In related news, CEO Eugene Willemsen sold 4,560 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.61, for a total transaction of $800,781.60. Following the completion of the sale, the chief executive officer now directly owns 8,277 shares in the company, valued at $1,453,523.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Flavell sold 5,150 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $175.11, for a total transaction of $901,816.50. Following the transaction, the executive vice president now directly owns 28,275 shares of the company’s stock, valued at approximately $4,951,235.25. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

A number of equities research analysts recently commented on PEP shares. Wells Fargo & Company lowered their price target on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $183.00 to $186.00 in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $173.00 to $175.00 in a research report on Wednesday, April 27th. StockNews.com initiated coverage on shares of PepsiCo in a research report on Thursday, March 31st. They set a “buy” rating for the company. Finally, Credit Suisse Group upped their price target on shares of PepsiCo from $163.00 to $168.00 in a research report on Wednesday, April 27th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.13.

PepsiCo Company Profile (Get Rating)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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