Raymond James Financial Inc. Sells 769,505 Shares of PepsiCo, Inc. $PEP

Key Points

• Raymond James Financial Inc. reduced its stake in PepsiCo, Inc. by 19.9%, owning approximately 3.1 million shares worth $465.71 million as of the 1st quarter.
• PepsiCo's latest earnings report showed an EPS of $2.12, exceeding expectations, with revenue of $22.73 billion during the quarter.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annual yield of 3.8%, with a payout ratio of 103.64%.

Raymond James Financial Inc. cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,105,982 shares of the company's stock after selling 769,505 shares during the period. Raymond James Financial Inc. owned approximately 0.23% of PepsiCo worth $465,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. Asset Management One Co. Ltd. boosted its holdings in PepsiCo by 3.6% during the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after purchasing an additional 21,859 shares during the last quarter. Ignite Planners LLC boosted its stake in PepsiCo by 4.2% in the first 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 last quarter. Ossiam boosted its stake in PepsiCo by 138.9% in the fourth 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 last quarter. Graybill Wealth Management LTD. purchased a new position in PepsiCo in the first quarter valued at about $3,633,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in PepsiCo by 12.1% in the fourth 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 last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PEP shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 target price on shares of PepsiCo in a research note on Tuesday, June 24th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Barclays boosted their target price on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Citigroup boosted their price target on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Price Performance

PepsiCo stock traded down $0.85 during midday trading on Monday, reaching $149.55. 9,899,332 shares of the stock were exchanged, compared to its average volume of 7,776,359. The company's fifty day moving average is $137.79 and its 200-day moving average is $140.48. 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 $204.75 billion, a PE ratio of 27.24, a PEG ratio of 4.01 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73.

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

PepsiCo Dividend Announcement

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 issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo's dividend payout ratio is presently 103.64%.

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.