Elk River Wealth Management LLC Sells 22,870 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Elk River Wealth Management LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 91.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,204 shares of the company’s stock after selling 22,870 shares during the period. Elk River Wealth Management LLC’s holdings in PepsiCo were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PEP. Tcfg Wealth Management LLC boosted its holdings in shares of PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after acquiring an additional 66 shares in the last quarter. TAGStone Capital Inc. raised its position in PepsiCo by 2.8% in the 4th 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 boosted its stake in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock worth $1,171,000 after purchasing an additional 70 shares in the last quarter. Leavell Investment Management Inc. grew its holdings in shares of PepsiCo by 0.3% during the fourth quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company’s stock worth $4,271,000 after purchasing an additional 71 shares during the last quarter. Finally, Legacy Financial Group LLC increased its stake in shares of PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock valued at $227,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.8%

NASDAQ:PEP opened at $130.03 on Friday. The stock’s fifty day simple moving average is $136.15 and its 200-day simple moving average is $146.25. The firm has a market capitalization of $178.28 billion, a P/E ratio of 18.71, a P/E/G 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, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91.

PepsiCo (NASDAQ:PEP) last issued its 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 company 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 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.38%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is currently 83.68%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PEP shares. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Morgan Stanley decreased their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Finally, CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $160.69.

PepsiCo 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.