Sfmg LLC Sells 2,923 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Sfmg LLC reduced its stake in PepsiCo by 29%, selling 2,923 shares, leaving it with 7,146 shares valued at approximately $1,071,000.
• Several institutional investors increased their holdings in PepsiCo recently, with Prudential PLC significantly raising its stake by 333.6%.
• PepsiCo declared a quarterly dividend of $1.4225 per share, resulting in an annualized payment of $5.69 and a dividend yield of 4.1%.

Sfmg LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 29.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,146 shares of the company's stock after selling 2,923 shares during the quarter. Sfmg LLC's holdings in PepsiCo were worth $1,071,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its holdings in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after buying an additional 1,306,818 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in PepsiCo by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock worth $2,108,585,000 after purchasing an additional 49,699 shares during the last quarter. Capital Research Global Investors raised its holdings in PepsiCo by 7.4% during the 4th quarter. Capital Research Global Investors now owns 12,048,646 shares of the company's stock worth $1,832,116,000 after purchasing an additional 831,148 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in PepsiCo by 3.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,317,520 shares of the company's stock worth $1,720,942,000 after purchasing an additional 416,537 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in PepsiCo by 9.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,878,718 shares of the company's stock worth $1,631,155,000 after purchasing an additional 923,766 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. Bank of America lowered their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Barclays lifted their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. Finally, Citigroup lifted 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $158.73.

PepsiCo Stock Up 0.3%

PEP traded up $0.44 during mid-day trading on Tuesday, reaching $140.00. 1,329,412 shares of the stock were exchanged, compared to its average volume of 8,544,037. The company has a 50 day moving average price of $134.83 and a two-hundred day moving average price of $140.77. 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 stock has a market capitalization of $191.68 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73.

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

PepsiCo Announces Dividend

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 given a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. PepsiCo's dividend payout ratio is currently 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.