PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,905 shares of the company's stock after selling 1,849 shares during the quarter. Pinnacle Financial Partners Inc's holdings in PepsiCo were worth $16,643,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo in the fourth quarter worth approximately $28,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the 4th quarter valued at approximately $30,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo during the 4th quarter valued at $31,000. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $33,000. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of PepsiCo in the fourth quarter worth $38,000. Institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Citigroup decreased their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. Bank of America lowered their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $159.75.

PepsiCo Stock Up 0.9%

Shares of PEP stock traded up $1.22 during mid-day trading on Wednesday, hitting $136.48. The stock had a trading volume of 9,386,258 shares, compared to its average volume of 7,030,764. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. The firm's 50-day moving average is $131.47 and its two-hundred day moving average is $142.58. The firm has a market capitalization of $187.12 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 4.13 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released 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 business had revenue of $17.92 billion during 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 firm's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $1.61 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were paid a $1.4225 dividend. This is an increase from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.17%. PepsiCo's payout ratio is 83.68%.

PepsiCo Company 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.