CM Wealth Advisors LLC Sells 2,250 Shares of PepsiCo, Inc. (NASDAQ:PEP)

CM Wealth Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 39.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,479 shares of the company’s stock after selling 2,250 shares during the quarter. CM Wealth Advisors LLC’s holdings in PepsiCo were worth $522,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gold Investment Management Ltd. boosted its position in PepsiCo by 60.0% during the first quarter. Gold Investment Management Ltd. now owns 653 shares of the company’s stock valued at $98,000 after purchasing an additional 245 shares in the last quarter. 3Chopt Investment Partners LLC boosted its position in PepsiCo by 18.7% during the first quarter. 3Chopt Investment Partners LLC now owns 14,169 shares of the company’s stock valued at $2,124,000 after purchasing an additional 2,235 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in PepsiCo by 13.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,037,786 shares of the company’s stock valued at $154,099,000 after purchasing an additional 124,386 shares in the last quarter. Lafayette Investments Inc. boosted its position in PepsiCo by 8.2% during the first quarter. Lafayette Investments Inc. now owns 47,805 shares of the company’s stock valued at $7,168,000 after purchasing an additional 3,638 shares in the last quarter. Finally, Philip James Wealth Mangement LLC boosted its position in PepsiCo by 223.6% during the first quarter. Philip James Wealth Mangement LLC now owns 26,525 shares of the company’s stock valued at $3,977,000 after purchasing an additional 18,327 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 2.2%

Shares of NASDAQ:PEP opened at $131.04 on Friday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The stock has a market cap of $179.67 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 3.68 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The business has a 50-day moving average price of $131.83 and a 200-day moving average price of $143.02.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share 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 net margin of 10.24% and a return on equity of 58.28%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 earnings per share. Equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. JPMorgan Chase & Co. raised their price target on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Finally, Morgan Stanley lowered their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a report 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 given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $159.75.

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.