Kingsview Wealth Management LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Kingsview Wealth Management LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,185 shares of the company’s stock after selling 2,422 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PepsiCo were worth $12,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WealthTrak Capital Management LLC bought a new stake in PepsiCo during the fourth quarter valued at about $28,000. Elite Financial Inc. purchased a new stake in PepsiCo in the 1st quarter worth $28,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo during the 4th quarter valued at approximately $30,000. Measured Risk Portfolios Inc. bought a new stake in PepsiCo in the fourth quarter worth $31,000. Finally, Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the 4th quarter valued at about $33,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $135.35 on Thursday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. The company has a 50 day moving average price of $131.69 and a 200-day moving average price of $141.29. The firm has a market cap of $185.58 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 4.18 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.08. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were issued a $1.4225 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.20%. PepsiCo’s dividend payout ratio is presently 83.68%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PEP shares. Citigroup lowered their price target on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Bank of America reduced their price objective on PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. Finally, Barclays decreased their price objective on PepsiCo from $135.00 to $132.00 and set an “equal weight” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $158.00.

PepsiCo 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.