Concord Wealth Partners Sells 8,007 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Concord Wealth Partners reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 52.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,387 shares of the company's stock after selling 8,007 shares during the quarter. Concord Wealth Partners' holdings in PepsiCo were worth $1,108,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in PepsiCo during the fourth quarter valued at approximately $2,729,565,000. GAMMA Investing LLC lifted its stake in PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after acquiring an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in PepsiCo by 106.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after acquiring an additional 1,809,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in PepsiCo in the fourth quarter valued at approximately $221,297,000. Finally, Vanguard Group Inc. lifted its stake in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 1.5%

Shares of PEP traded down $2.20 during mid-day trading on Friday, hitting $143.24. 13,738,009 shares of the company's stock were exchanged, compared to its average volume of 7,239,591. The company has a market cap of $196.39 billion, a PE ratio of 26.09, a P/E/G ratio of 4.38 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The company has a 50-day simple moving average of $132.23 and a 200 day simple moving average of $141.11. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last released 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. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same period last year, the business earned $2.28 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday. Cowen reiterated a "hold" rating on shares of PepsiCo in a research note on Thursday. Barclays lowered their price target on shares of PepsiCo from $135.00 to $132.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. Finally, UBS Group lowered their target price 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $157.93.

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.