PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Primoris Wealth Advisors LLC

Primoris Wealth Advisors LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 15.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,828 shares of the company’s stock after selling 1,406 shares during the quarter. Primoris Wealth Advisors LLC’s holdings in PepsiCo were worth $1,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LFA Lugano Financial Advisors SA increased its position in shares of PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after purchasing an additional 70 shares during the last quarter. Valued Wealth Advisors LLC boosted its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the period. Fortis Group Advisors LLC boosted its holdings in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares during the period. Life Planning Partners Inc purchased a new position in PepsiCo during the 4th quarter valued at about $34,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the 1st quarter valued at about $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America decreased their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company decreased their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and a consensus price target of $185.27.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

PepsiCo Price Performance

PEP traded up $2.43 during trading on Friday, reaching $166.38. 6,677,035 shares of the stock were exchanged, compared to its average volume of 4,994,207. The business’s 50 day moving average price is $170.93 and its two-hundred day moving average price is $169.99. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The company has a market capitalization of $228.74 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.89 and a beta of 0.52. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.86% and a net margin of 10.34%. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Friday, June 7th. PepsiCo’s dividend payout ratio is currently 78.66%.

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.