PepsiCo, Inc. $PEP Shares Sold by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC reduced its stock holdings in PepsiCo, Inc. by 33.3% during the first quarter, ending with 6,303 shares valued at approximately $945,000.
• PepsiCo recently reported a quarterly earnings of $2.12 EPS, surpassing analysts' estimates and achieving revenue of $22.73 billion for the quarter.
• The firm announced a quarterly dividend of $1.4225 per share, representing an annualized yield of 3.8% despite a payout ratio of 103.64%.

EverSource Wealth Advisors LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,303 shares of the company's stock after selling 3,151 shares during the period. EverSource Wealth Advisors LLC's holdings in PepsiCo were worth $945,000 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 PEP. Nuveen LLC purchased a new position in PepsiCo in the first quarter valued at $946,978,000. GAMMA Investing LLC increased its position in shares of 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 buying an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after buying an additional 1,809,391 shares during the period. Vanguard Group Inc. lifted its holdings in PepsiCo by 1.4% during the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock valued at $20,268,027,000 after purchasing an additional 1,802,748 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of PepsiCo during the 4th quarter worth about $221,297,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 0.6%

PEP traded down $0.85 during trading hours on Monday, reaching $149.55. The company's stock had a trading volume of 9,899,332 shares, compared to its average volume of 8,497,878. The stock has a market cap of $204.75 billion, a PE ratio of 27.24, a P/E/G ratio of 4.01 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $179.73. 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 business's 50-day moving average is $137.79 and its 200-day moving average is $140.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.28 earnings per share. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is currently 103.64%.

Analysts Set New Price Targets

PEP has been the topic of several research analyst reports. Cowen reiterated a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Citigroup boosted their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. UBS Group dropped their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company boosted their price target on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.