C2C Wealth Management LLC Sells 110 Shares of PepsiCo, Inc. (NASDAQ:PEP)

C2C Wealth Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,784 shares of the company’s stock after selling 110 shares during the period. C2C Wealth Management LLC’s holdings in PepsiCo were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after buying an additional 1,376,133 shares during the period. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after acquiring an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Norges Bank bought a new stake in PepsiCo during the fourth quarter valued at about $2,729,565,000. Finally, Northern Trust Corp grew its stake in PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.0%

PEP stock opened at $129.09 on Tuesday. The company has a market capitalization of $176.99 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 3.71 and a beta of 0.46. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The firm’s fifty day simple moving average is $132.83 and its 200-day simple moving average is $143.63. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65.

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

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.41%. The ex-dividend date is Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is currently 83.68%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America decreased 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. Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price target for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. UBS Group reduced their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Morgan Stanley reduced their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Finally, Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $160.69.

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.