Robertson Stephens Wealth Management LLC Sells 3,670 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Robertson Stephens Wealth Management LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,067 shares of the company's stock after selling 3,670 shares during the period. Robertson Stephens Wealth Management LLC's holdings in PepsiCo were worth $3,759,000 as of its most recent filing with the Securities and Exchange Commission.

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

PepsiCo Price Performance

PEP stock opened at $129.29 on Wednesday. The firm has a 50 day moving average of $134.13 and a 200-day moving average of $144.63. The firm has a market capitalization of $177.27 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 3.77 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter last year, the business posted $1.61 EPS. The company's quarterly revenue was down 1.8% on a year-over-year basis. As a group, 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. Stockholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's payout ratio is currently 83.68%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Barclays lowered their target price on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Morgan Stanley dropped their target price on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. UBS Group decreased their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report on Friday, April 25th. Jefferies Financial Group cut PepsiCo from a "buy" rating to a "hold" rating and dropped their price objective for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.

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