PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co reduced its stake in PepsiCo by 2.4%, holding 2,914,132 shares valued at approximately $439.28 million after selling 71,809 shares in the first quarter.
• PepsiCo's latest earnings report showed $2.12 EPS and $22.73 billion in revenue, exceeding analysts’ expectations.
• The company announced a quarterly dividend of $1.4225 per share, with an annual yield of 4.0%, and a payout ratio of 103.64%.

Fayez Sarofim & Co trimmed its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,914,132 shares of the company's stock after selling 71,809 shares during the quarter. Fayez Sarofim & Co owned about 0.21% of PepsiCo worth $439,280,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PEP. Elite Financial Inc. acquired a new position in shares of PepsiCo in the 1st quarter valued at $28,000. Measured Risk Portfolios Inc. purchased a new position in shares of PepsiCo in the 4th quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new stake in PepsiCo in the fourth quarter valued at approximately $38,000. Bridge Generations Wealth Management LLC acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $38,000. Finally, Sunbeam Capital Management LLC acquired a new stake in PepsiCo in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Trading Up 0.5%

NASDAQ:PEP traded up $0.67 on Friday, reaching $144.59. The company's stock had a trading volume of 506,191 shares, compared to its average volume of 8,500,824. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $179.73. The stock has a 50 day moving average price of $135.19 and a 200 day moving average price of $140.76. The firm has a market cap of $197.95 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 3.75 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $2.12 EPS 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 net margin of 8.23% and a return on equity of 57.81%. PepsiCo's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.28 earnings per share. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PEP. Bank of America decreased their price objective on shares of 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 objective on PepsiCo in a report on Thursday, April 24th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Barclays lifted their price target on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Finally, Morgan Stanley increased their price objective on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. One equities research 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $158.73.

About PepsiCo

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.