Sara Bay Financial Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sara Bay Financial reduced its position in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 7.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,815 shares of the company’s stock after selling 236 shares during the period. Sara Bay Financial’s holdings in PepsiCo were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Life Planning Partners Inc purchased a new stake in shares of PepsiCo during the 4th quarter valued at $35,000. Fortis Advisors LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at $38,000. Leverty Financial Group LLC purchased a new stake in shares of PepsiCo during the 4th quarter valued at $38,000. Creative Financial Designs Inc. ADV grew its stake in shares of PepsiCo by 229.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 323 shares of the company’s stock valued at $56,000 after buying an additional 225 shares during the period. Finally, Masso Torrence Wealth Management Inc. purchased a new stake in shares of PepsiCo during the 4th quarter valued at $56,000. 72.12% of the stock is owned by hedge funds and other institutional investors.

Shares of PEP stock opened at $162.03 on Thursday. PepsiCo, Inc. has a 12 month low of $144.61 and a 12 month high of $177.62. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.87 and a quick ratio of 0.68. The firm has a market capitalization of $224.04 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.12 and a beta of 0.59. The company’s fifty day moving average price is $166.98 and its two-hundred day moving average price is $168.10.

PepsiCo (NASDAQ:PEPGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. PepsiCo had a net margin of 12.57% and a return on equity of 53.44%. The firm had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.54 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 6.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, June 2nd. This is a positive change from PepsiCo’s previous quarterly dividend of $1.08. PepsiCo’s dividend payout ratio is 62.93%.

In other news, CEO Eugene Willemsen sold 4,560 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.61, for a total value of $800,781.60. Following the sale, the chief executive officer now owns 8,277 shares in the company, valued at approximately $1,453,523.97. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Flavell sold 5,150 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.11, for a total transaction of $901,816.50. Following the completion of the sale, the executive vice president now owns 28,275 shares in the company, valued at approximately $4,951,235.25. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PepsiCo from $173.00 to $175.00 in a research note on Wednesday, April 27th. Wells Fargo & Company lowered their price objective on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research note on Tuesday. StockNews.com began coverage on shares of PepsiCo in a report on Thursday, March 31st. They set a “buy” rating on the stock. Credit Suisse Group lifted their target price on shares of PepsiCo from $163.00 to $168.00 in a report on Wednesday, April 27th. Finally, Citigroup lifted their target price on shares of PepsiCo from $194.00 to $198.00 in a report on Wednesday, April 27th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.13.

PepsiCo Company Profile (Get Rating)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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