Red Cedar Investment Management LLC Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Red Cedar Investment Management LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 73.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,813 shares of the company's stock after selling 7,930 shares during the quarter. Red Cedar Investment Management LLC's holdings in PepsiCo were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PEP. WealthTrak Capital Management LLC bought a new stake in PepsiCo during the 4th quarter worth approximately $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the fourth quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new stake in PepsiCo in the fourth quarter valued at $31,000. Summit Securities Group LLC bought a new position in PepsiCo during the 4th quarter worth $33,000. Finally, GKV Capital Management Co. Inc. acquired a new position in PepsiCo during the 4th quarter worth about $38,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 2.4%

Shares of NASDAQ PEP traded up $3.22 during mid-day trading on Tuesday, reaching $135.26. 12,843,472 shares of the company's stock traded hands, compared to its average volume of 7,021,334. 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 business has a 50-day simple moving average of $131.64 and a 200 day simple moving average of $142.63. The stock has a market cap of $185.45 billion, a P/E ratio of 19.89, a PEG ratio of 4.13 and a beta of 0.45. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced 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). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the company posted $1.61 EPS. The company's quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.21%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is presently 83.68%.

Wall Street Analyst Weigh In

PEP has been the subject of several recent research reports. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday, June 24th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. 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, PepsiCo has an average rating of "Hold" and a consensus target price of $159.75.

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.