PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by ZRC Wealth Management LLC

ZRC Wealth Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,381 shares of the company’s stock after selling 103 shares during the period. ZRC Wealth Management LLC’s holdings in PepsiCo were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Amplius Wealth Advisors LLC boosted its stake in shares of PepsiCo by 2.8% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after acquiring an additional 60 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in PepsiCo by 2.7% during the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after purchasing an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC grew its stake 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 acquiring an additional 61 shares during the last quarter. Finally, Security Financial Services INC. boosted its stake in shares of PepsiCo by 1.6% in the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock valued at $690,000 after purchasing an additional 61 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the subject of several analyst reports. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a report on Wednesday, June 26th. Wedbush reaffirmed an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and a consensus target price of $186.64.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ:PEP traded down $0.98 during mid-day trading on Thursday, hitting $162.60. 2,879,575 shares of the company traded hands, compared to its average volume of 5,397,682. The stock has a market cap of $223.54 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.69 and a beta of 0.52. The stock has a 50-day moving average price of $172.65 and a two-hundred day moving average price of $170.19. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.33%. PepsiCo’s payout ratio is currently 81.50%.

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.