Smith Anglin Financial LLC Sells 261 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Smith Anglin Financial LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,731 shares of the company’s stock after selling 261 shares during the quarter. Smith Anglin Financial LLC’s holdings in PepsiCo were worth $1,159,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Collier Financial bought a new stake in PepsiCo during the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo in the 4th quarter worth approximately $30,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of PepsiCo in the 4th quarter worth approximately $31,000. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays cut their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Morgan Stanley cut their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Evercore ISI set a $140.00 target price on PepsiCo in a research note on Thursday, April 24th. Finally, Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $160.69.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $130.91 on Tuesday. The stock has a fifty day simple moving average of $137.62 and a two-hundred day simple moving average of $146.83. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The firm has a market cap of $179.49 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. 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 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 company had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.35%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is currently 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.