Princeton Global Asset Management LLC Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Princeton Global Asset Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,604 shares of the company’s stock after selling 1,697 shares during the quarter. Princeton Global Asset Management LLC’s holdings in PepsiCo were worth $2,040,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter worth approximately $28,000. Collier Financial purchased a new stake in PepsiCo during the 4th quarter worth $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $30,000. Prudent Man Investment Management Inc. acquired a new stake in PepsiCo in the fourth quarter valued at approximately $30,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in PepsiCo during the 4th quarter worth $31,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PEP shares. CICC Research restated a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Barclays dropped their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Morgan Stanley cut their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $163.00 price objective on shares of PepsiCo in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $160.69.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $130.03 on Friday. PepsiCo, Inc. has a 1 year low of $127.75 and a 1 year high of $180.91. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a fifty day moving average price of $136.15 and a two-hundred day moving average price of $146.25. The firm has a market cap of $178.28 billion, a P/E ratio of 18.71, a PEG ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last announced 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 net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business earned $1.61 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, June 6th. PepsiCo’s payout ratio is presently 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.