Carnegie Investment Counsel Sells 32,513 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Carnegie Investment Counsel reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 19.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,196 shares of the company's stock after selling 32,513 shares during the period. Carnegie Investment Counsel's holdings in PepsiCo were worth $19,816,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter worth approximately $28,000. Elite Financial Inc. purchased a new position in PepsiCo in the first quarter worth $28,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo in the fourth quarter worth $30,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo during the fourth quarter valued at $31,000. Finally, Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 0.7%

Shares of PEP traded down $1.06 on Friday, hitting $143.45. 6,596,497 shares of the stock traded hands, compared to its average volume of 10,334,833. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $196.39 billion, a P/E ratio of 26.13, a P/E/G ratio of 3.82 and a beta of 0.45. The stock's 50 day moving average is $133.58 and its two-hundred day moving average is $140.99. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91.

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

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 3.97%. PepsiCo's payout ratio is 103.64%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PEP shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. Finally, Bank of America reduced their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $158.73.

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.