PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Parthenon LLC

Parthenon LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,795 shares of the company’s stock after selling 475 shares during the period. PepsiCo comprises 2.4% of Parthenon LLC’s portfolio, making the stock its 13th largest holding. Parthenon LLC’s holdings in PepsiCo were worth $17,119,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Sunesis Advisors LLC purchased a new stake in PepsiCo during the 3rd quarter worth $1,026,000. Golden State Equity Partners grew its position in PepsiCo by 6.5% in the third quarter. Golden State Equity Partners now owns 8,031 shares of the company’s stock valued at $1,361,000 after acquiring an additional 489 shares in the last quarter. Signet Investment Advisory Group Inc. lifted its position in shares of PepsiCo by 5.7% during the third quarter. Signet Investment Advisory Group Inc. now owns 12,384 shares of the company’s stock worth $2,098,000 after purchasing an additional 670 shares in the last quarter. Bfsg LLC grew its holdings in PepsiCo by 4.4% during the 3rd quarter. Bfsg LLC now owns 15,431 shares of the company’s stock valued at $2,615,000 after purchasing an additional 655 shares in the last quarter. Finally, One Day In July LLC acquired a new position in PepsiCo in the 3rd quarter worth $255,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

PepsiCo stock traded down $0.23 during midday trading on Tuesday, hitting $175.91. The company’s stock had a trading volume of 4,465,101 shares, compared to its average volume of 5,806,826. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $241.84 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53. The stock’s 50-day moving average price is $169.74 and its 200-day moving average price is $168.16.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.08%. PepsiCo’s dividend payout ratio is currently 76.09%.

Analyst Ratings Changes

PEP has been the subject of a number of analyst reports. Jefferies Financial Group increased their price target on PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a report on Friday, April 5th. Barclays lifted their price target on shares of PepsiCo from $184.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.42.

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.