PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,584 shares of the company's stock after selling 3,773 shares during the quarter. Procyon Advisors LLC's holdings in PepsiCo were worth $3,986,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Intellectus Partners LLC boosted its position in PepsiCo by 12.4% during the first quarter. Intellectus Partners LLC now owns 11,204 shares of the company's stock worth $1,680,000 after acquiring an additional 1,234 shares during the last quarter. Stablepoint Partners LLC boosted its position in PepsiCo by 13.3% during the first quarter. Stablepoint Partners LLC now owns 41,009 shares of the company's stock worth $6,149,000 after acquiring an additional 4,827 shares during the last quarter. Consilio Wealth Advisors LLC acquired a new stake in PepsiCo during the first quarter worth approximately $274,000. Curat Global LLC acquired a new stake in PepsiCo during the first quarter worth approximately $641,000. Finally, Generali Investments Management Co LLC boosted its position in PepsiCo by 14.7% during the first quarter. Generali Investments Management Co LLC now owns 15,556 shares of the company's stock worth $2,332,000 after acquiring an additional 1,998 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.8%

PepsiCo stock traded down $1.08 during midday trading on Friday, hitting $130.03. 7,619,600 shares of the stock were exchanged, compared to its average volume of 6,594,528. PepsiCo, Inc. has a 1 year low of $127.75 and a 1 year high of $180.91. The firm has a market cap of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.47. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company has a 50 day moving average price of $136.15 and a two-hundred day moving average price of $146.25.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PEP shares. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Citigroup decreased their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. 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 report on Friday, April 25th. Finally, CICC Research reiterated a "market perform" rating on shares of PepsiCo in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of "Hold" and an average price target of $160.69.

PepsiCo 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.