Daymark Wealth Partners LLC Sells 16,366 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Daymark Wealth Partners LLC decreased its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 19.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,121 shares of the company's stock after selling 16,366 shares during the quarter. Daymark Wealth Partners LLC's holdings in PepsiCo were worth $10,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of PepsiCo during the 4th quarter valued at about $2,729,565,000. GAMMA Investing LLC raised its holdings in PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after buying an additional 4,564,723 shares during the period. Raymond James Financial Inc. bought a new position in PepsiCo in the fourth quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of PepsiCo during the fourth quarter worth $221,297,000. Institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PEP shares. Bank of America reduced their target price 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. Citigroup reduced their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Morgan Stanley decreased their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Barclays cut their target price on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Finally, Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Stock Performance

Shares of PepsiCo stock traded up $2.40 during trading on Thursday, hitting $132.30. 11,432,993 shares of the stock were exchanged, compared to its average volume of 6,646,656. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The stock has a market capitalization of $181.39 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. The company has a fifty day moving average price of $135.04 and a 200-day moving average price of $145.63. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the company earned $1.61 EPS. PepsiCo's quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.30%. PepsiCo's dividend payout ratio is presently 83.68%.

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.