PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 43.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,567 shares of the company's stock after selling 26,798 shares during the period. First Horizon Advisors Inc.'s holdings in PepsiCo were worth $5,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $28,000. Prudent Man Investment Management Inc. acquired a new position in shares of PepsiCo in the fourth quarter worth about $30,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo during the 4th quarter worth about $31,000. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at about $33,000. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of PepsiCo in the 4th quarter valued at about $38,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $135.58 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The stock's fifty day moving average is $131.36 and its two-hundred day moving average is $142.40. The firm has a market capitalization of $185.88 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 4.27 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91.

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 the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the firm posted $1.61 EPS. The company's revenue was down 1.8% compared to the same quarter last year. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is presently 83.68%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays dropped their price objective on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. Morgan Stanley decreased their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Bank of America cut their target price on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, UBS Group decreased their price target 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and an average target price of $159.75.

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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