PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Burling Wealth Partners LLC

Burling Wealth Partners LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 31.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,139 shares of the company's stock after selling 6,387 shares during the quarter. Burling Wealth Partners LLC's holdings in PepsiCo were worth $2,120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo in the fourth quarter worth about $28,000. Elite Financial Inc. purchased a new position in PepsiCo during the first quarter valued at approximately $28,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo during the fourth quarter valued at approximately $30,000. Measured Risk Portfolios Inc. acquired a new stake in PepsiCo in the fourth quarter valued at approximately $31,000. Finally, Summit Securities Group LLC acquired a new stake in PepsiCo in the fourth quarter valued at approximately $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the topic of several research analyst reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a report on Tuesday, June 24th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company lifted their price target on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Friday. Citigroup lifted their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $157.93.

PepsiCo Trading Down 1.5%

PEP stock traded down $2.20 during trading on Friday, reaching $143.24. 13,738,009 shares of the stock traded hands, compared to its average volume of 7,239,591. The business's 50 day moving average price is $132.23 and its 200-day moving average price is $141.11. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The firm has a market capitalization of $196.11 billion, a PE ratio of 26.09, a P/E/G ratio of 4.38 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The company's revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 3.97%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is presently 103.64%.

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.