CapWealth Advisors LLC Sells 332 Shares of PepsiCo, Inc. (NASDAQ:PEP)

CapWealth Advisors LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 117,257 shares of the company’s stock after selling 332 shares during the period. PepsiCo accounts for approximately 2.3% of CapWealth Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. CapWealth Advisors LLC’s holdings in PepsiCo were worth $20,521,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PEP. Harbour Investments Inc. boosted its position in PepsiCo by 3.4% during the third quarter. Harbour Investments Inc. now owns 24,271 shares of the company’s stock valued at $4,113,000 after acquiring an additional 801 shares during the last quarter. Financial Gravity Asset Management Inc. boosted its position in PepsiCo by 662.8% during the third quarter. Financial Gravity Asset Management Inc. now owns 2,258 shares of the company’s stock valued at $383,000 after acquiring an additional 1,962 shares during the last quarter. Revisor Wealth Management LLC bought a new stake in PepsiCo during the third quarter valued at $427,000. Creative Planning boosted its position in PepsiCo by 16.3% during the third quarter. Creative Planning now owns 761,797 shares of the company’s stock valued at $129,079,000 after acquiring an additional 106,996 shares during the last quarter. Finally, Diversified Trust Co boosted its position in PepsiCo by 1.0% during the third quarter. Diversified Trust Co now owns 57,472 shares of the company’s stock valued at $9,738,000 after acquiring an additional 580 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEP. Jefferies Financial Group dropped their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America dropped their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.13.

Insider Activity

In other 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 transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

PepsiCo Stock Down 0.1 %

PEP stock traded down $0.22 during trading on Tuesday, reaching $161.90. The stock had a trading volume of 5,801,160 shares, compared to its average volume of 5,473,631. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company’s 50 day moving average is $171.59 and its two-hundred day moving average is $170.07. The company has a market capitalization of $222.58 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 2.70 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same period in the prior year, the firm earned $1.50 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio is currently 81.50%.

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.