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

Avity Investment Management Inc. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 89.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,669 shares of the company's stock after selling 174,320 shares during the quarter. Avity Investment Management Inc.'s holdings in PepsiCo were worth $2,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Curat Global LLC purchased a new stake in shares of PepsiCo during the first quarter worth $641,000. Generali Investments Management Co LLC increased its position in shares of PepsiCo by 14.7% during the first quarter. Generali Investments Management Co LLC now owns 15,556 shares of the company's stock worth $2,332,000 after acquiring an additional 1,998 shares during the period. MRA Advisory Group increased its holdings in PepsiCo by 23.9% in the first quarter. MRA Advisory Group now owns 1,994 shares of the company's stock valued at $299,000 after buying an additional 385 shares during the last quarter. Foster Group Inc. increased its holdings in PepsiCo by 15.0% in the first quarter. Foster Group Inc. now owns 4,940 shares of the company's stock valued at $741,000 after buying an additional 643 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in PepsiCo by 11.5% in the first quarter. Vest Financial LLC now owns 377,540 shares of the company's stock valued at $56,608,000 after buying an additional 38,967 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of PEP traded down $1.08 during mid-day trading on Friday, hitting $130.03. 7,619,600 shares of the company's stock were exchanged, compared to its average volume of 6,594,477. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. 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 business's 50 day moving average is $136.54 and its two-hundred day moving average is $146.43. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share 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 business had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the company posted $1.61 EPS. PepsiCo's quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This is an increase from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.38%. PepsiCo's dividend payout ratio is 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. CICC Research reissued a "market perform" rating on shares of PepsiCo in a report on Friday, February 7th. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. UBS Group dropped their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Bank of America dropped their target price on PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently 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.