DAVENPORT & Co LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)


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DAVENPORT & Co LLC cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 85.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,806 shares of the company’s stock after selling 756,712 shares during the quarter. DAVENPORT & Co LLC’s holdings in PepsiCo were worth $18,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. purchased a new position in PepsiCo during the 4th quarter valued at about $27,000. Emerson Wealth Management LLC purchased a new position in PepsiCo during the 1st quarter valued at about $28,000. PrairieView Partners LLC purchased a new position in PepsiCo during the 4th quarter valued at about $30,000. Inspire Advisors LLC purchased a new position in shares of PepsiCo in the 4th quarter valued at about $31,000. Finally, Interactive Financial Advisors purchased a new position in shares of PepsiCo in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 69.94% of the company’s stock.

PEP opened at $145.79 on Tuesday. The business’s fifty day moving average is $141.53 and its two-hundred day moving average is $140.48. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.77 and a current ratio of 0.93. The company has a market cap of $201.43 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 3.63 and a beta of 0.57. PepsiCo, Inc. has a one year low of $126.53 and a one year high of $148.77.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, April 14th. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.09. The company had revenue of $14.82 billion during the quarter, compared to analyst estimates of $14.54 billion. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.07 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Friday, March 5th were given a $1.0225 dividend. This represents a $4.09 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Thursday, March 4th. PepsiCo’s payout ratio is 73.96%.

Several equities analysts have recently issued reports on the company. Guggenheim reiterated a “buy” rating on shares of PepsiCo in a research note on Thursday, April 1st. Wolfe Research assumed coverage on PepsiCo in a research report on Monday, April 19th. They set a “peer perform” rating on the stock. UBS Group raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $165.00 in a research report on Tuesday, April 27th. Sanford C. Bernstein assumed coverage on PepsiCo in a research report on Tuesday, January 19th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a research report on Friday, February 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $149.23.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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