Mission Wealth Management LP Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Mission Wealth Management LP reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,764 shares of the company's stock after selling 2,672 shares during the period. Mission Wealth Management LP's holdings in PepsiCo were worth $2,663,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new stake in PepsiCo during the fourth quarter worth approximately $224,000. Brighton Jones LLC lifted its position in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after buying an additional 6,574 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of PepsiCo in the 4th quarter valued at $9,268,000. Bank Pictet & Cie Europe AG grew its position in shares of PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares during the last quarter. Finally, Allworth Financial LP lifted its position in PepsiCo by 39.8% in the fourth quarter. Allworth Financial LP now owns 66,784 shares of the company's stock valued at $9,890,000 after acquiring an additional 19,013 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP traded down $2.12 on Tuesday, reaching $129.29. The stock had a trading volume of 10,168,314 shares, compared to its average volume of 6,708,886. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The firm has a market capitalization of $177.27 billion, a PE ratio of 18.60, a PEG ratio of 3.09 and a beta of 0.45. The firm has a 50-day moving average of $134.45 and a 200 day moving average of $144.73. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.40%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is 83.68%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PEP shares. JPMorgan Chase & Co. raised their price target on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research note on Thursday, April 24th. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and reduced their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Finally, Barclays reduced their price objective on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $160.69.

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.