PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Watchman Group Inc.

Key Points

• Watchman Group Inc. reduced its holdings in PepsiCo by 34.7% during the first quarter, selling 2,245 shares, which brought their total ownership to 4,218 shares valued at approximately $632,000.
• PepsiCo reported earnings per share of $2.12 for the last quarter, exceeding estimates by $0.09, with revenues of $22.73 billion, showing a year-over-year growth of 1.0%.
• The company announced a quarterly dividend of $1.4225 per share, with a yield of 3.8%, scheduled for payment to investors of record on September 5th.

Watchman Group Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 34.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,218 shares of the company's stock after selling 2,245 shares during the quarter. Watchman Group Inc.'s holdings in PepsiCo were worth $632,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company's stock valued at $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 26,475,241 shares of the company's stock valued at $3,969,698,000 after acquiring an additional 1,258,198 shares during the last quarter. Northern Trust Corp boosted its holdings in PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in PepsiCo by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock valued at $2,108,585,000 after acquiring an additional 49,699 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in PepsiCo by 7.4% in the fourth quarter. Capital Research Global Investors now owns 12,048,646 shares of the company's stock valued at $1,832,116,000 after acquiring an additional 831,148 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Down 0.5%

Shares of NASDAQ PEP opened at $148.62 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The firm has a market cap of $203.47 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 3.98 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73. The stock's 50-day simple moving average is $136.99 and its 200-day simple moving average is $140.63.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. PepsiCo's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.28 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Morgan Stanley boosted their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, Citigroup boosted their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $158.73.

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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