PepsiCo, Inc. (NASDAQ:PEP) Stock Holdings Cut by SPC Financial Inc.

SPC Financial Inc. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,864 shares of the company’s stock after selling 89 shares during the quarter. SPC Financial Inc.’s holdings in PepsiCo were worth $501,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Keener Financial Planning LLC raised its holdings in PepsiCo by 16.4% during the first quarter. Keener Financial Planning LLC now owns 524 shares of the company’s stock valued at $92,000 after buying an additional 74 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of PepsiCo by 2.5% during the 1st quarter. DAVENPORT & Co LLC now owns 203,618 shares of the company’s stock worth $35,631,000 after purchasing an additional 4,965 shares during the period. Team Hewins LLC increased its holdings in shares of PepsiCo by 7.5% during the 1st quarter. Team Hewins LLC now owns 6,133 shares of the company’s stock worth $1,081,000 after purchasing an additional 427 shares during the period. Commonwealth Retirement Investments LLC increased its holdings in shares of PepsiCo by 1.8% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 29,475 shares of the company’s stock worth $5,158,000 after purchasing an additional 531 shares during the period. Finally, Csenge Advisory Group increased its stake in PepsiCo by 2.9% in the first quarter. Csenge Advisory Group now owns 20,784 shares of the company’s stock valued at $3,637,000 after acquiring an additional 582 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $166.49 on Friday. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The firm has a 50-day moving average of $171.12 and a 200-day moving average of $169.99. The stock has a market cap of $228.89 billion, a PE ratio of 24.65, a P/E/G ratio of 2.84 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the company earned $2.09 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.26%. PepsiCo’s payout ratio is 81.50%.

Insider Activity at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of analyst reports. Barclays lowered their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday. TD Cowen reduced their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Finally, Bank of America cut their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.00.

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.