Redmond Asset Management LLC Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Redmond Asset Management LLC significantly reduced its stake in PepsiCo by 53.1%, now holding 13,701 shares valued at approximately $2,054,000 following the sale of 15,495 shares in the first quarter.
• PepsiCo's recent quarterly earnings report showed an EPS of $2.12, exceeding analyst expectations, with revenues reaching $22.73 billion, a 1% increase year-over-year.
• The company announced a quarterly dividend of $1.4225, translating to an annualized dividend yield of 3.8%, despite a payout ratio of over 100%.

Redmond Asset Management LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 53.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,701 shares of the company's stock after selling 15,495 shares during the quarter. Redmond Asset Management LLC's holdings in PepsiCo were worth $2,054,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Brighton Jones LLC increased its position in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares during the period. Greenwood Gearhart Inc. grew its holdings in PepsiCo by 30.2% in the 4th quarter. Greenwood Gearhart Inc. now owns 1,795 shares of the company's stock valued at $273,000 after buying an additional 416 shares during the period. Coleford Investment Management Ltd. purchased a new stake in PepsiCo in the 4th quarter valued at about $14,673,000. Finally, Demars Financial Group LLC grew its holdings in PepsiCo by 16,275.8% in the 4th quarter. Demars Financial Group LLC now owns 936,862 shares of the company's stock valued at $142,459,000 after buying an additional 931,141 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of PEP opened at $148.62 on Friday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. 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. The business's 50 day moving average is $136.99 and its two-hundred day moving average is $140.63.

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

PepsiCo Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo's payout ratio is presently 103.64%.

Wall Street Analyst Weigh In

Several research firms have commented on PEP. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Barclays lifted their price objective on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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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