Banque Pictet & Cie SA Sells 300,773 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Banque Pictet & Cie SA reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,401,554 shares of the company's stock after selling 300,773 shares during the quarter. PepsiCo accounts for about 2.9% of Banque Pictet & Cie SA's holdings, making the stock its 9th biggest holding. Banque Pictet & Cie SA owned approximately 0.18% of PepsiCo worth $360,089,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. TAGStone Capital Inc. boosted its position in shares of PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after acquiring an additional 70 shares in the last quarter. Lokken Investment Group LLC boosted its position in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock valued at $1,171,000 after buying an additional 70 shares in the last quarter. Legacy Financial Group LLC lifted its holdings in shares of PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after purchasing an additional 71 shares during the period. Atlantic Private Wealth LLC lifted its holdings in shares of PepsiCo by 37.5% during the fourth quarter. Atlantic Private Wealth LLC now owns 275 shares of the company's stock worth $42,000 after purchasing an additional 75 shares during the period. Finally, Pflug Koory LLC lifted its holdings in shares of PepsiCo by 1.0% during the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after purchasing an additional 76 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.0%

PepsiCo stock opened at $135.11 on Wednesday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The stock has a market cap of $185.24 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 4.21 and a beta of 0.45. The firm's 50-day simple moving average is $131.43 and its 200 day simple moving average is $141.93. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.21%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. PepsiCo's payout ratio is presently 83.68%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday, June 24th. Morgan Stanley decreased their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research note on Thursday, April 24th. Finally, Bank of America decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $159.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.