Greenwood Capital Associates LLC Sells 35,613 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Greenwood Capital Associates LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 84.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,369 shares of the company's stock after selling 35,613 shares during the quarter. Greenwood Capital Associates LLC's holdings in PepsiCo were worth $955,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PEP. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the 4th quarter worth $30,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $31,000. Finally, Summit Securities Group LLC bought a new position in shares of PepsiCo during the fourth quarter valued at about $33,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a report on Tuesday, April 22nd. UBS Group dropped their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a report on Monday, April 21st. 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 report on Wednesday, March 12th. Finally, Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. One investment 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $160.69.

PepsiCo Price Performance

Shares of PEP stock traded down $1.45 during trading hours on Friday, hitting $130.85. 9,578,363 shares of the company's stock were exchanged, compared to its average volume of 6,668,925. The company has a market capitalization of $179.41 billion, a PE ratio of 18.83, a PEG ratio of 3.09 and a beta of 0.45. The business's 50 day simple moving average is $134.82 and its 200-day simple moving average is $145.42. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. 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 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.35%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's 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.