PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,290 shares of the company's stock after selling 12,213 shares during the period. Highland Capital Management LLC's holdings in PepsiCo were worth $11,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after acquiring an additional 11,538 shares during the last quarter. NewEdge Wealth LLC raised its holdings in PepsiCo by 2.8% in the 4th quarter. NewEdge Wealth LLC now owns 36,193 shares of the company's stock valued at $5,504,000 after acquiring an additional 996 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in PepsiCo in the 4th quarter valued at about $70,000. Finally, GenTrust LLC raised its holdings in PepsiCo by 6.3% in the 4th quarter. GenTrust LLC now owns 1,450 shares of the company's stock valued at $222,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $131.04 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 has a market capitalization of $179.67 billion, a P/E ratio of 19.27, a PEG ratio of 3.68 and a beta of 0.45. The company has a 50 day moving average price of $131.83 and a 200 day moving average price of $143.02. 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 posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.61 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS 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 given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.34%. The ex-dividend date is Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PEP shares. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Citigroup dropped their price target 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. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday. Finally, Barclays dropped their price target on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. One 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target 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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