Panoramic Investment Advisors LLC Sells 1,009 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Panoramic Investment Advisors LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,719 shares of the company’s stock after selling 1,009 shares during the quarter. PepsiCo makes up approximately 1.4% of Panoramic Investment Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Panoramic Investment Advisors LLC’s holdings in PepsiCo were worth $1,876,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PEP. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after purchasing an additional 578,083 shares in the last quarter. Norges Bank purchased a new position in shares of PepsiCo during the fourth quarter valued at about $2,686,139,000. California Public Employees Retirement System grew its position in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Franklin Resources Inc. grew its position in PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after acquiring an additional 1,105,127 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. Barclays decreased their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Finally, BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $186.38.

PepsiCo Stock Performance

Shares of PEP traded up $0.36 during trading hours on Tuesday, reaching $163.25. 883,147 shares of the company traded hands, compared to its average volume of 5,473,404. The stock has a market capitalization of $224.43 billion, a P/E ratio of 24.58, a P/E/G ratio of 2.71 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38. The business has a fifty day moving average price of $173.37 and a 200-day moving average price of $170.30.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $1.355 dividend. The ex-dividend date was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is 81.50%.

Insiders Place Their Bets

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

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.