PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Reliant Investment Management LLC

Reliant Investment Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 79.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,470 shares of the company’s stock after selling 9,532 shares during the quarter. Reliant Investment Management LLC’s holdings in PepsiCo were worth $370,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $224,000. Brighton Jones LLC lifted its holdings in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of PepsiCo in the fourth quarter worth $9,268,000. Trilogy Capital Inc. grew its holdings in shares of PepsiCo by 7.0% during the fourth quarter. Trilogy Capital Inc. now owns 3,258 shares of the company’s stock valued at $495,000 after buying an additional 212 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its position in PepsiCo by 28.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 3,160 shares of the company’s stock valued at $479,000 after buying an additional 700 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $130.03 on Friday. The company has a 50-day simple moving average of $136.15 and a two-hundred day simple moving average of $146.25. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The stock has a market capitalization of $178.28 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company posted $1.61 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed 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 an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio is currently 83.68%.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Citigroup cut their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Dbs Bank cut shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, 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 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.