Daymark Wealth Partners LLC Sells 16,366 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Daymark Wealth Partners LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,121 shares of the company's stock after selling 16,366 shares during the period. Daymark Wealth Partners LLC's holdings in PepsiCo were worth $10,064,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in PepsiCo during the fourth quarter valued at about $2,729,565,000. GAMMA Investing LLC boosted its stake in PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after acquiring an additional 4,564,723 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of PepsiCo during the 4th quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 18.1% during 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 purchasing an additional 3,856,193 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares during the period. Institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

NASDAQ:PEP traded up $0.20 during mid-day trading on Thursday, hitting $128.22. 11,519,153 shares of the stock traded hands, compared to its average volume of 6,888,552. PepsiCo, Inc. has a 12-month low of $127.63 and a 12-month high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The company has a market cap of $175.80 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. The business's 50-day moving average price is $132.36 and its 200 day moving average price is $143.44.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.61 EPS. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is 83.68%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. Jefferies Financial Group cut PepsiCo from a "buy" rating to a "hold" rating and dropped their price target for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. UBS Group decreased their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report on Friday, April 25th. Royal Bank Of Canada restated a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research note on Tuesday. Finally, Morgan Stanley cut their target price on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $159.75.

PepsiCo 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.