PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 177,441 shares of the company's stock after selling 8,353 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in PepsiCo were worth $26,606,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Sonora Investment Management Group LLC raised its stake in PepsiCo by 0.3% during the 1st quarter. Sonora Investment Management Group LLC now owns 101,777 shares of the company's stock worth $15,260,000 after acquiring an additional 272 shares during the period. Accurate Wealth Management LLC boosted its holdings in shares of PepsiCo by 6.3% during the 1st quarter. Accurate Wealth Management LLC now owns 10,425 shares of the company's stock valued at $1,506,000 after purchasing an additional 616 shares during the last quarter. Fiduciary Financial Group LLC grew its holdings in PepsiCo by 59.7% during the 1st quarter. Fiduciary Financial Group LLC now owns 2,957 shares of the company's stock valued at $426,000 after buying an additional 1,105 shares in the last quarter. Simplicity Wealth LLC grew its stake in shares of PepsiCo by 304.4% in the 1st quarter. Simplicity Wealth LLC now owns 29,059 shares of the company's stock worth $4,357,000 after buying an additional 21,873 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of PepsiCo by 28.1% in the 1st quarter. GAMMA Investing LLC now owns 30,603 shares of the company's stock worth $4,589,000 after purchasing an additional 6,712 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. Morgan Stanley decreased their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" 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 decreased their price objective for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Bank of America dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, Citigroup lowered their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $160.69.

PepsiCo Stock Down 1.1%

Shares of NASDAQ:PEP traded down $1.45 during trading on Friday, hitting $130.85. The company's stock had a trading volume of 9,578,363 shares, compared to its average volume of 6,668,925. The business has a 50 day moving average price of $134.63 and a two-hundred day moving average price of $145.20. The company has a market capitalization of $179.41 billion, a PE ratio of 18.83, a P/E/G ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $1.4225 dividend. This is an increase from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.35%. PepsiCo's payout ratio is presently 83.68%.

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.