West Michigan Advisors LLC Sells 2,151 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• West Michigan Advisors LLC has significantly reduced its holdings in PepsiCo, Inc. by 46.4%, now owning 2,489 shares worth approximately $373,000.
• A number of research firms have adjusted their price targets for PepsiCo, with Barclays increasing its target from $132 to $144, while JPMorgan lowered theirs from $150 to $139.
• PepsiCo recently declared a quarterly dividend of $1.4225, resulting in an annualized dividend of $5.69 and a yield of 4.1%.

West Michigan Advisors LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 46.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,489 shares of the company's stock after selling 2,151 shares during the quarter. West Michigan Advisors LLC's holdings in PepsiCo were worth $373,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PEP. Asset Management One Co. Ltd. boosted its stake in PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC lifted its position in shares of PepsiCo by 4.2% during the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after acquiring an additional 151 shares during the period. Ossiam lifted its position in shares of PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after acquiring an additional 42,793 shares during the period. Graybill Wealth Management LTD. bought a new stake in shares of PepsiCo during the 1st quarter valued at $3,633,000. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after acquiring an additional 13,461 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 1.0%

PepsiCo stock traded up $1.35 during trading hours on Wednesday, hitting $140.80. 6,746,011 shares of the stock traded hands, compared to its average volume of 9,650,565. The firm's 50-day moving average price is $134.99 and its two-hundred day moving average price is $140.76. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The company has a market cap of $192.77 billion, a PE ratio of 25.65, a PEG ratio of 3.72 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same period in the previous year, the firm posted $2.28 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PEP shares. Citigroup boosted their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Bank of America lowered their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and a consensus target price of $158.73.

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.