Lockheed Martin Investment Management Co. Sells 1,860 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Lockheed Martin Investment Management Co. sold 1,860 shares of PepsiCo, reducing its stake by 2.3%, leaving it with a total of 78,820 shares valued at approximately $11.8 million.
• PepsiCo reported a quarterly earnings per share (EPS) of $2.12, beating analysts’ expectations of $2.03, with revenue growing 1.0% year-over-year to $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, with an ex-dividend date of September 5th, resulting in a dividend yield of 3.9%.

Lockheed Martin Investment Management Co. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,820 shares of the company's stock after selling 1,860 shares during the quarter. Lockheed Martin Investment Management Co.'s holdings in PepsiCo were worth $11,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. raised its holdings in shares of PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC raised its holdings in shares of PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after purchasing an additional 151 shares during the period. Ossiam raised its holdings in shares of PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after purchasing an additional 42,793 shares during the period. Graybill Wealth Management LTD. bought a new stake in shares of PepsiCo in the 1st quarter worth approximately $3,633,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in shares of PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after purchasing an additional 13,461 shares during the period. Institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays lifted their price target on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Wells Fargo & Company lifted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, 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, July 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $158.73.

PepsiCo Price Performance

Shares of PEP traded down $0.34 during mid-day trading on Monday, reaching $144.87. 5,772,177 shares of the stock traded hands, compared to its average volume of 9,407,565. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73. The firm has a fifty day moving average price of $135.98 and a 200 day moving average price of $140.57. The company has a market cap of $198.34 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 3.87 and a beta of 0.45. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

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

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.