Rossby Financial LCC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Rossby Financial LCC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 44.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 765 shares of the company’s stock after selling 624 shares during the quarter. Rossby Financial LCC’s holdings in PepsiCo were worth $115,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. TAGStone Capital Inc. increased its holdings in PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares during the last quarter. Lokken Investment Group LLC increased its stake in shares of PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock worth $1,171,000 after buying an additional 70 shares during the last quarter. Legacy Financial Group LLC raised its holdings in PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock valued at $227,000 after acquiring an additional 71 shares in the last quarter. Atlantic Private Wealth LLC boosted its stake in PepsiCo by 37.5% during the 4th quarter. Atlantic Private Wealth LLC now owns 275 shares of the company’s stock valued at $42,000 after acquiring an additional 75 shares during the last quarter. Finally, Pflug Koory LLC grew its holdings in PepsiCo by 1.0% during the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock worth $1,162,000 after acquiring an additional 76 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEP. Barclays reduced their price target on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Citigroup reduced their target price on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Bank of America lowered their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. UBS Group reduced their price objective on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Morgan Stanley lowered their target price on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. 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. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $159.75.

PepsiCo Price Performance

NASDAQ PEP opened at $135.58 on Friday. The company has a 50-day moving average price of $131.36 and a two-hundred day moving average price of $142.40. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The stock has a market cap of $185.88 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 4.27 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.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.61 earnings per share. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.20%. PepsiCo’s dividend payout ratio (DPR) is presently 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.