PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 32.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,584 shares of the company's stock after selling 21,143 shares during the period. Parsons Capital Management Inc. RI's holdings in PepsiCo were worth $6,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after purchasing an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after buying an additional 3,856,193 shares in the last quarter. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth about $2,729,565,000. Finally, Northern Trust Corp raised its position in shares of PepsiCo by 8.7% during the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after buying an additional 1,306,818 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Up 1.4%

Shares of PEP traded up $1.87 during midday trading on Tuesday, reaching $131.83. 11,844,887 shares of the stock were exchanged, compared to its average volume of 6,635,101. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company's 50 day moving average is $135.76 and its two-hundred day moving average is $145.84. The company has a market capitalization of $180.75 billion, a P/E ratio of 18.97, a PEG ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.32%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is presently 83.68%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PEP shares. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Jefferies Financial Group lowered PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Citigroup dropped their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. UBS Group reduced their target price 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. Finally, Morgan Stanley dropped their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. One 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, the stock has an average rating of "Hold" and an average 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.