BIP Wealth LLC Sells 151 Shares of PepsiCo, Inc. (NASDAQ:PEP)

BIP Wealth LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,508 shares of the company’s stock after selling 151 shares during the quarter. BIP Wealth LLC’s holdings in PepsiCo were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PEP. WealthTrak Capital Management LLC bought a new position in PepsiCo during the 4th quarter worth approximately $28,000. Elite Financial Inc. bought a new stake in PepsiCo during the 1st quarter valued at $28,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo during the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. bought a new stake in PepsiCo in the 4th quarter worth $31,000. Finally, Summit Securities Group LLC bought a new position in shares of PepsiCo during the fourth quarter valued at about $33,000. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEP. Barclays reduced their price target on PepsiCo from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Tuesday. Royal Bank Of Canada restated a “sector perform” rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research report on Thursday, July 10th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Finally, Morgan Stanley reduced their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $158.00.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $133.81 on Wednesday. The stock has a market cap of $183.46 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.24 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The firm’s 50-day moving average is $131.62 and its 200 day moving average is $141.33.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $1.61 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.25%. PepsiCo’s dividend payout ratio is 83.68%.

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.