Royal Harbor Partners LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Royal Harbor Partners LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 41.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,361 shares of the company’s stock after selling 974 shares during the period. Royal Harbor Partners LLC’s holdings in PepsiCo were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PEP. TAGStone Capital Inc. grew its stake in shares of PepsiCo by 2.8% in 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 raised its position in shares of PepsiCo by 0.9% during the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock worth $1,171,000 after purchasing an additional 70 shares during the period. Legacy Financial Group LLC lifted its holdings in shares of PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock valued at $227,000 after purchasing an additional 71 shares during the last quarter. Atlantic Private Wealth LLC boosted its position in shares of PepsiCo by 37.5% in the 4th quarter. Atlantic Private Wealth LLC now owns 275 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares during the period. Finally, Pflug Koory LLC increased its stake in PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock worth $1,162,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. Citigroup reduced their price target on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Morgan Stanley dropped their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Finally, UBS Group decreased their target price on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $159.75.

PepsiCo Stock Down 0.7%

PEP opened at $135.58 on Friday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The business has a 50 day moving average of $131.36 and a 200-day moving average of $142.40. The stock has a market capitalization of $185.88 billion, a price-to-earnings ratio of 19.94, a P/E/G 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 announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The firm 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%. PepsiCo’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $1.4225 dividend. 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 dividend on an annualized basis and a dividend yield of 4.20%. PepsiCo’s dividend payout ratio is currently 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.