PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Foyston Gordon & Payne Inc

Foyston Gordon & Payne Inc cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 65.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,028 shares of the company’s stock after selling 17,112 shares during the quarter. Foyston Gordon & Payne Inc’s holdings in PepsiCo were worth $1,580,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of PepsiCo in the 1st quarter worth $29,303,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of PepsiCo by 132.7% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 747 shares of the company’s stock worth $131,000 after acquiring an additional 426 shares during the last quarter. Tectonic Advisors LLC grew its holdings in shares of PepsiCo by 7.5% in the 1st quarter. Tectonic Advisors LLC now owns 31,117 shares of the company’s stock worth $5,446,000 after acquiring an additional 2,163 shares during the last quarter. Forsta AP Fonden grew its holdings in shares of PepsiCo by 6.8% during the first quarter. Forsta AP Fonden now owns 393,100 shares of the company’s stock valued at $68,796,000 after buying an additional 25,000 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of PepsiCo by 9.4% during the first quarter. Illinois Municipal Retirement Fund now owns 161,610 shares of the company’s stock valued at $28,283,000 after buying an additional 13,820 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by insiders.

PepsiCo Stock Up 1.5 %

Shares of NASDAQ:PEP traded up $2.43 on Friday, reaching $166.38. The company had a trading volume of 6,677,035 shares, compared to its average volume of 4,994,207. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The stock has a 50-day moving average price of $170.93 and a 200 day moving average price of $169.99. The stock has a market capitalization of $228.74 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.89 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.86% and a net margin of 10.34%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is currently 78.66%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PEP shares. Morgan Stanley lowered their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday. BNP Paribas started coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday. Barclays lowered their price target on PepsiCo from $180.00 to $179.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Moderate Buy” and an average price target of $185.27.

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.