Garland Capital Management Inc. Sells 760 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Garland Capital Management Inc. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,275 shares of the company’s stock after selling 760 shares during the quarter. PepsiCo makes up 4.0% of Garland Capital Management Inc.’s portfolio, making the stock its 11th biggest position. Garland Capital Management Inc.’s holdings in PepsiCo were worth $4,240,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Marietta Wealth Management LLC raised its holdings in shares of PepsiCo by 19.5% in the 1st quarter. Marietta Wealth Management LLC now owns 57,275 shares of the company’s stock valued at $8,588,000 after purchasing an additional 9,335 shares in the last quarter. GAM Holding AG raised its holdings in shares of PepsiCo by 62.3% in the 1st quarter. GAM Holding AG now owns 11,413 shares of the company’s stock valued at $1,711,000 after purchasing an additional 4,383 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in shares of PepsiCo by 5.1% in the 1st quarter. Stonegate Investment Group LLC now owns 27,106 shares of the company’s stock valued at $4,064,000 after purchasing an additional 1,321 shares in the last quarter. PFG Investments LLC raised its holdings in shares of PepsiCo by 4.0% in the 1st quarter. PFG Investments LLC now owns 58,759 shares of the company’s stock valued at $8,810,000 after purchasing an additional 2,272 shares in the last quarter. Finally, Advocate Group LLC bought a new stake in shares of PepsiCo in the 1st quarter valued at about $224,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $129.07 on Friday. The company has a market cap of $176.97 billion, a PE ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The company’s 50 day moving average is $133.19 and its two-hundred day moving average is $144.06.

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

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.41%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo’s payout ratio is presently 83.68%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. Morgan Stanley cut their price objective 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. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $163.00 price objective on shares of PepsiCo in a research report on Tuesday, April 22nd. UBS Group cut their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, Citigroup cut their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $160.69.

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.