Midland Wealth Advisors LLC Sells 773 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Midland Wealth Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,654 shares of the company’s stock after selling 773 shares during the period. Midland Wealth Advisors LLC’s holdings in PepsiCo were worth $2,197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC boosted its position in PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after buying an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Norges Bank purchased a new position in shares of PepsiCo during the fourth quarter worth approximately $2,729,565,000. Finally, Northern Trust Corp raised its stake in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PEP. Royal Bank of Canada restated a “sector perform” rating and set a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. UBS Group dropped their price objective on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. Finally, Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $160.69.

PepsiCo Trading Down 0.8%

PEP stock opened at $130.03 on Monday. The stock has a market cap of $178.28 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.09 and a beta of 0.45. The business’s 50-day moving average is $136.15 and its 200 day moving average is $146.06. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 earnings per share. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.38%. PepsiCo’s payout ratio is 83.68%.

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.