Modera Wealth Management LLC Sells 4,990 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Modera Wealth Management LLC reduced its stake in PepsiCo by 3.1%, resulting in ownership of 155,566 shares valued at approximately $23.3 million as of its latest SEC filing.
• PepsiCo's recent quarterly earnings exceeded estimates, with earnings per share of $2.12 on revenues of $22.73 billion, showcasing a 1.0% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.4225 per share, representing an annualized yield of 3.95%, despite a high dividend payout ratio of 103.64%.

Modera Wealth Management LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,566 shares of the company's stock after selling 4,990 shares during the quarter. Modera Wealth Management LLC's holdings in PepsiCo were worth $23,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft lifted its position in shares of PepsiCo by 14.3% during the first quarter. Baader Bank Aktiengesellschaft now owns 9,551 shares of the company's stock worth $1,391,000 after purchasing an additional 1,195 shares in the last quarter. SlateStone Wealth LLC boosted its position in PepsiCo by 1.5% in the 1st quarter. SlateStone Wealth LLC now owns 114,860 shares of the company's stock valued at $17,222,000 after buying an additional 1,734 shares during the last quarter. 360 Financial Inc. increased its stake in shares of PepsiCo by 156.3% in the 1st quarter. 360 Financial Inc. now owns 5,403 shares of the company's stock valued at $810,000 after buying an additional 3,295 shares during the period. Wellington Shields & Co. LLC lifted its stake in shares of PepsiCo by 3.5% during the first quarter. Wellington Shields & Co. LLC now owns 5,915 shares of the company's stock valued at $887,000 after acquiring an additional 200 shares during the period. Finally, Arkadios Wealth Advisors increased its position in PepsiCo by 66.4% in the first quarter. Arkadios Wealth Advisors now owns 22,280 shares of the company's stock worth $3,341,000 after purchasing an additional 8,893 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. Morgan Stanley raised their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Bank of America cut their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Finally, UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $158.73.

PepsiCo Stock Down 0.7%

NASDAQ PEP traded down $1.03 during trading on Wednesday, hitting $142.86. The stock had a trading volume of 9,730,855 shares, compared to its average volume of 8,992,737. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The company's 50-day moving average price is $134.27 and its two-hundred day moving average price is $140.98. The company has a market capitalization of $195.59 billion, a PE ratio of 26.02, a P/E/G ratio of 3.83 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 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 business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the prior year, the company posted $2.28 earnings per share. The firm's revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.98%. PepsiCo's dividend payout ratio (DPR) is 103.64%.

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.