PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Cognios Beta Neutral Large Cap Fund LP

Cognios Beta Neutral Large Cap Fund LP lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,048 shares of the company’s stock after selling 298 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in PepsiCo were worth $533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEP. LFA Lugano Financial Advisors SA lifted its holdings in shares of PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after purchasing an additional 70 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares in the last quarter. Fortis Group Advisors LLC increased its position in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo in the first quarter worth $35,000. Finally, Life Planning Partners Inc purchased a new stake in shares of PepsiCo in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Insider Activity

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’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 transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $0.90 during midday trading on Tuesday, hitting $164.76. 4,074,539 shares of the company’s stock were exchanged, compared to its average volume of 5,515,497. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The firm has a market cap of $226.31 billion, a P/E ratio of 23.91, a PEG ratio of 2.89 and a beta of 0.52. The stock’s 50 day moving average price is $170.43 and its 200-day moving average price is $169.91. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.86%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.29%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio is presently 78.66%.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America lowered their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday. TD Cowen lowered their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Wells Fargo & Company dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.