Denali Advisors LLC Sells 3,263 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Denali Advisors LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 48.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,404 shares of the company's stock after selling 3,263 shares during the period. Denali Advisors LLC's holdings in PepsiCo were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after purchasing an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after acquiring an additional 11,538 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of PepsiCo by 22.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company's stock worth $677,000 after acquiring an additional 824 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of PepsiCo by 12.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 122,510 shares of the company's stock worth $18,767,000 after acquiring an additional 13,857 shares during the last quarter. Finally, Washington Trust Bank lifted its holdings in shares of PepsiCo by 16.5% in the fourth quarter. Washington Trust Bank now owns 10,602 shares of the company's stock worth $1,612,000 after acquiring an additional 1,500 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.3%

NASDAQ:PEP traded down $0.47 during mid-day trading on Wednesday, reaching $145.57. The stock had a trading volume of 2,228,441 shares, compared to its average volume of 7,239,316. 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 stock's 50 day simple moving average is $132.23 and its two-hundred day simple moving average is $141.04. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The company has a market capitalization of $199.30 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 4.34 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were given a $1.4225 dividend. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 3.91%. PepsiCo's payout ratio is 103.64%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Bank of America cut their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. Citigroup increased their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. cut their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of "Hold" and an average 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.