PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by IMS Capital Management

IMS Capital Management lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,524 shares of the company’s stock after selling 244 shares during the quarter. PepsiCo accounts for about 1.2% of IMS Capital Management’s holdings, making the stock its 21st biggest position. IMS Capital Management’s holdings in PepsiCo were worth $2,542,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PEP. LMG Wealth Partners LLC increased its holdings in PepsiCo by 1.5% during the 4th quarter. LMG Wealth Partners LLC now owns 42,428 shares of the company’s stock valued at $7,206,000 after acquiring an additional 642 shares in the last quarter. Iowa State Bank lifted its stake in PepsiCo by 0.7% in the 4th quarter. Iowa State Bank now owns 44,354 shares of the company’s stock valued at $7,533,000 after buying an additional 330 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in PepsiCo by 6.2% during the 4th quarter. DAVENPORT & Co LLC now owns 198,653 shares of the company’s stock valued at $33,738,000 after buying an additional 11,664 shares during the last quarter. Independence Bank of Kentucky raised its holdings in shares of PepsiCo by 17.1% in the fourth quarter. Independence Bank of Kentucky now owns 14,721 shares of the company’s stock worth $2,500,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Webster Bank N. A. lifted its position in shares of PepsiCo by 2.7% in the fourth quarter. Webster Bank N. A. now owns 49,201 shares of the company’s stock valued at $8,356,000 after acquiring an additional 1,287 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America cut their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. reduced their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Barclays upped their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $185.53.

PepsiCo Stock Performance

Shares of PepsiCo stock traded up $3.08 during trading on Friday, hitting $178.04. 6,856,083 shares of the stock were exchanged, compared to its average volume of 5,787,874. The stock has a market cap of $244.55 billion, a PE ratio of 25.84, a P/E/G ratio of 3.02 and a beta of 0.52. The stock’s fifty day moving average is $168.15 and its 200 day moving average is $170.13. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $189.22. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the firm earned $2.09 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Insider Activity

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

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.