Argus Investors Counsel Inc. Sells 75 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Argus Investors Counsel Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,636 shares of the company’s stock after selling 75 shares during the period. Argus Investors Counsel Inc.’s holdings in PepsiCo were worth $1,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. LFA Lugano Financial Advisors SA lifted its stake in shares of PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after purchasing an additional 70 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the period. Life Planning Partners Inc purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $34,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo in the first quarter worth approximately $35,000. Finally, Naples Money Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $36,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Down 1.5 %

Shares of PEP traded down $2.82 during trading hours on Thursday, hitting $179.27. The company had a trading volume of 4,008,732 shares, compared to its average volume of 5,482,663. The company has a market capitalization of $246.46 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 2.95 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38. The company’s fifty day moving average price is $174.31 and its two-hundred day moving average price is $170.06.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.17 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.02%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. PepsiCo’s payout ratio is 76.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PEP shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $180.00 price target on shares of PepsiCo in a report on Monday, February 12th. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $195.00 in a report on Monday, February 12th. JPMorgan Chase & Co. raised their price objective on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Barclays lifted their target price on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and an average price target of $187.58.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

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.