Cary Street Partners Investment Advisory LLC Sells 47,812 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cary Street Partners Investment Advisory LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 85.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,288 shares of the company’s stock after selling 47,812 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in PepsiCo were worth $1,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC boosted its position in shares of PepsiCo by 9,623.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after purchasing an additional 3,026,611 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of PepsiCo in the 3rd quarter worth $329,179,000. Flossbach Von Storch AG boosted its position in shares of PepsiCo by 121.4% in the 4th quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after purchasing an additional 1,495,586 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of PepsiCo by 68.0% in the 4th quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock worth $496,382,000 after purchasing an additional 1,183,371 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.57 on Tuesday, hitting $175.57. The company’s stock had a trading volume of 1,476,444 shares, compared to its average volume of 5,769,551. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88. The firm has a fifty day moving average price of $169.60 and a 200-day moving average price of $168.05. The company has a market capitalization of $241.37 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the previous year, the business earned $1.50 EPS. PepsiCo’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.265 dividend. This represents a $5.06 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, February 29th. PepsiCo’s payout ratio is 76.09%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. raised their target price on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and raised their target price for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research note on Monday, February 12th. Finally, Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo 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.