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

Denali Advisors LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 48.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 (SEC).

Several other institutional investors have also recently made changes to their positions in the business. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $28,000. Elite Financial Inc. purchased a new position in shares of PepsiCo in the 1st quarter valued at about $28,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo during the 4th quarter valued at about $30,000. Measured Risk Portfolios Inc. purchased a new position in PepsiCo during the 4th quarter valued at about $31,000. Finally, Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEP. Morgan Stanley lifted their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Cowen reissued a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Royal Bank Of Canada reissued a "sector perform" rating and set a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. One equities research 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $158.73.

PepsiCo Trading Up 2.7%

PEP traded up $3.84 during midday trading on Tuesday, reaching $145.54. 5,080,849 shares of the company were exchanged, compared to its average volume of 7,239,195. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The stock has a market capitalization of $199.25 billion, a P/E ratio of 26.51, a PEG ratio of 4.38 and a beta of 0.45. The stock's 50-day simple moving average is $132.23 and its 200 day simple moving average is $141.04.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly 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 firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the previous year, the firm earned $2.28 EPS. The business's quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.91%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 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.