PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Castle Wealth Management LLC

Castle Wealth Management LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,981 shares of the company’s stock after selling 188 shares during the quarter. Castle Wealth Management LLC’s holdings in PepsiCo were worth $297,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TAGStone Capital Inc. lifted its holdings in shares of PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock valued at $388,000 after purchasing an additional 70 shares during the last quarter. Lokken Investment Group LLC lifted its holdings in shares of PepsiCo by 0.9% during the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock valued at $1,171,000 after purchasing an additional 70 shares during the last quarter. Legacy Financial Group LLC lifted its holdings in shares of PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock valued at $227,000 after purchasing an additional 71 shares during the last quarter. Atlantic Private Wealth LLC lifted its holdings in shares of PepsiCo by 37.5% during the fourth quarter. Atlantic Private Wealth LLC now owns 275 shares of the company’s stock valued at $42,000 after purchasing an additional 75 shares during the last quarter. Finally, Pflug Koory LLC lifted its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.9%

PEP opened at $136.48 on Thursday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The business has a 50-day moving average of $131.36 and a 200-day moving average of $142.54. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. The company has a market capitalization of $187.12 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45.

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

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.17%. PepsiCo’s dividend payout ratio is currently 83.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEP. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. Barclays reduced their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. UBS Group reduced their price objective on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Bank of America reduced their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus 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.