PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 56,569 shares of the company's stock after selling 4,214 shares during the period. Bar Harbor Wealth Management's holdings in PepsiCo were worth $8,482,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ossiam raised its stake in shares of PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after purchasing an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after buying an additional 13,461 shares during the last quarter. Hutner Capital Management Inc. lifted its stake in PepsiCo by 14.6% during the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock valued at $8,178,000 after acquiring an additional 6,865 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in shares of PepsiCo in the 4th quarter valued at $47,899,000. Finally, Inspire Trust Co. N.A. increased its stake in shares of PepsiCo by 39.2% in the fourth quarter. Inspire Trust Co. N.A. now owns 17,125 shares of the company's stock worth $2,604,000 after acquiring an additional 4,825 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on PEP. UBS Group lowered their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Barclays decreased their price objective on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. Finally, Citigroup cut their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company 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 assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Price Performance

Shares of PEP traded down $1.45 during mid-day trading on Friday, hitting $130.85. 9,578,363 shares of the company were exchanged, compared to its average volume of 6,677,016. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The stock has a market cap of $179.41 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. The company has a 50 day moving average of $134.63 and a 200-day moving average of $145.08.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 EPS. Analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.35%. The ex-dividend date is Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

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.