PAX Financial Group LLC Sells 306 Shares of PepsiCo, Inc. (NASDAQ:PEP)

PAX Financial Group LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,577 shares of the company’s stock after selling 306 shares during the period. PAX Financial Group LLC’s holdings in PepsiCo were worth $626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of PepsiCo in the fourth quarter valued at about $2,686,139,000. International Assets Investment Management LLC grew its position in shares of PepsiCo by 9,623.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after buying an additional 3,026,611 shares during the last quarter. Flossbach Von Storch AG lifted its stake in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares during the period. California Public Employees Retirement System boosted its holdings in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.8 %

Shares of PEP traded down $1.37 on Tuesday, hitting $166.29. 2,069,758 shares of the stock traded hands, compared to its average volume of 5,510,765. The company has a market capitalization of $228.41 billion, a PE ratio of 24.26, a P/E/G ratio of 2.93 and a beta of 0.52. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The business has a 50 day simple moving average of $169.65 and a 200 day simple moving average of $169.84.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

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

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Wedbush restated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Jefferies Financial Group reduced their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company dropped their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.53.

Insider Activity

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now 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 SEC, which is available at the SEC website. 0.15% of the stock is owned by corporate insiders.

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.