PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Grandfield & Dodd LLC

Grandfield & Dodd LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 16,681 shares of the company’s stock after selling 113 shares during the period. Grandfield & Dodd LLC’s holdings in PepsiCo were worth $2,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. WealthTrak Capital Management LLC purchased a new stake in PepsiCo during the 4th quarter worth approximately $28,000. Elite Financial Inc. purchased a new stake in PepsiCo during the 1st quarter worth approximately $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $30,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $31,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $33,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 1.3%

Shares of NASDAQ:PEP opened at $133.81 on Wednesday. The firm has a market cap of $183.46 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.24 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The business has a fifty day simple moving average of $131.62 and a 200 day simple moving average of $141.33.

PepsiCo (NASDAQ:PEP) last announced its earnings results 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 company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 earnings per share. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced 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 a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

Analyst Ratings Changes

PEP has been the subject of a number of research analyst reports. UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. Morgan Stanley lowered their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. Bank of America lowered their price target on PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, July 11th. Finally, Citigroup lowered their price target on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $158.00.

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.