Burney Co. Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Burney Co. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 23,036 shares of the company’s stock after selling 258 shares during the quarter. Burney Co.’s holdings in PepsiCo were worth $4,032,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after purchasing an additional 578,083 shares during the period. Norges Bank acquired a new position in shares of PepsiCo in the fourth quarter valued at about $2,686,139,000. California Public Employees Retirement System increased its holdings in shares of 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 purchasing an additional 1,470,064 shares during the period. Franklin Resources Inc. increased its holdings in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after purchasing an additional 1,105,127 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was 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 owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

PepsiCo Trading Up 1.8 %

PepsiCo stock traded up $3.08 during trading on Friday, reaching $178.04. 6,856,083 shares of the company were exchanged, compared to its average volume of 5,787,874. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $189.22. The company has a market capitalization of $244.55 billion, a P/E ratio of 25.84, a PEG ratio of 3.02 and a beta of 0.52. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $168.15 and its two-hundred day simple moving average is $170.11.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.04%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. BNP Paribas initiated coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Wells Fargo & Company dropped their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Bank of America dropped their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, TD Cowen lowered their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $185.53.

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.