PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 75,238 shares of the company’s stock after selling 553 shares during the period. PepsiCo accounts for 2.1% of Sky Investment Group LLC’s portfolio, making the stock its 10th largest position. Sky Investment Group LLC’s holdings in PepsiCo were worth $11,281,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PEP. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo during the fourth quarter worth $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the fourth quarter worth $30,000. Prudent Man Investment Management Inc. bought a new position in shares of PepsiCo during the fourth quarter worth $30,000. Measured Risk Portfolios Inc. bought a new position in shares of PepsiCo during the fourth quarter worth $31,000. Finally, Summit Securities Group LLC bought a new position in shares of PepsiCo during the fourth quarter worth $33,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent analyst reports. Citigroup reduced their price target on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Morgan Stanley reduced their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $163.00 price objective on shares of PepsiCo in a research report on Tuesday, April 22nd. Dbs Bank cut shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $160.69.

PepsiCo Stock Up 1.8%

Shares of PEP stock opened at $132.30 on Friday. 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, Inc. has a 1 year low of $127.75 and a 1 year high of $180.91. The firm’s fifty day moving average price is $134.82 and its two-hundred day moving average price is $145.42. The firm has a market capitalization of $181.39 billion, a P/E ratio of 19.04, a PEG ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results 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). The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.30%. PepsiCo’s payout ratio is currently 83.68%.

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.