Nvest Financial LLC Sells 777 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Nvest Financial LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,458 shares of the company’s stock after selling 777 shares during the quarter. PepsiCo makes up 1.9% of Nvest Financial LLC’s investment portfolio, making the stock its 12th largest holding. Nvest Financial LLC’s holdings in PepsiCo were worth $3,517,000 as of its most recent SEC filing.

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

PepsiCo Stock Down 2.3%

Shares of NASDAQ:PEP opened at $128.02 on Thursday. The business’s 50 day moving average is $132.36 and its 200 day moving average is $143.44. The stock has a market cap of $175.53 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. PepsiCo, Inc. has a 52-week low of $127.63 and a 52-week high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion for 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 quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.44%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is currently 83.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PEP. Bank of America dropped their target price on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. UBS Group cut their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, Morgan Stanley decreased their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. One equities research 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 stock presently has an average rating of “Hold” and an average price target of $159.75.

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.