PepsiCo, Inc. (NASDAQ:PEP) Position Lessened by Elk River Wealth Management LLC

Elk River Wealth Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 91.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,204 shares of the company's stock after selling 22,870 shares during the quarter. Elk River Wealth Management LLC's holdings in PepsiCo were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEP. Collier Financial bought a new position in PepsiCo during the fourth quarter valued at approximately $28,000. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo during the 4th quarter worth $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the 4th quarter valued at $30,000. Prudent Man Investment Management Inc. bought a new stake in PepsiCo in the fourth quarter worth $30,000. Finally, Measured Risk Portfolios Inc. acquired a new position in PepsiCo during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PEP. JPMorgan Chase & Co. boosted their price target on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Citigroup cut their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Morgan Stanley decreased their target price on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Royal Bank of Canada reissued a "sector perform" rating and issued a $163.00 price target on shares of PepsiCo in a research report on Tuesday, April 22nd. Finally, CICC Research restated a "market perform" rating on shares of PepsiCo in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $160.69.

PepsiCo Stock Down 0.8%

Shares of PEP opened at $130.03 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a 50-day simple moving average of $136.15 and a 200-day simple moving average of $146.25. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The firm has a market capitalization of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 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 firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned $1.61 EPS. The company's revenue was down 1.8% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.38%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is currently 83.68%.

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.

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