Redwood Investment Management LLC Has $1.14 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Redwood Investment Management LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,488 shares of the company’s stock after selling 1,406 shares during the period. Redwood Investment Management LLC’s holdings in PepsiCo were worth $1,135,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Strategy Asset Managers LLC raised its stake in shares of PepsiCo by 0.9% in the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after acquiring an additional 57 shares during the period. SYM FINANCIAL Corp grew its holdings in shares of PepsiCo by 2.7% in the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after purchasing an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC grew its holdings in shares of PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after purchasing an additional 61 shares during the last quarter. Security Financial Services INC. grew its holdings in shares of PepsiCo by 1.6% in the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after purchasing an additional 61 shares during the last quarter. Finally, Arbor Investment Advisors LLC grew its holdings in shares of PepsiCo by 3.6% in the first quarter. Arbor Investment Advisors LLC now owns 1,779 shares of the company’s stock worth $311,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Insider Transactions at PepsiCo

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

PepsiCo Stock Performance

PEP traded up $0.33 during trading on Thursday, reaching $173.00. 396,463 shares of the company’s stock were exchanged, compared to its average volume of 5,486,086. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $189.97. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The stock has a market capitalization of $237.63 billion, a P/E ratio of 25.06, a price-to-earnings-growth ratio of 2.99 and a beta of 0.52. The company’s fifty day simple moving average is $168.23 and its 200-day simple moving average is $170.00.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.09 EPS. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.13%. PepsiCo’s payout ratio is 78.66%.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. Jefferies Financial Group dropped their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Barclays raised their price target on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, Bank of America lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $185.53.

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.