Sara Bay Financial Sells 499 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sara Bay Financial reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,896 shares of the company’s stock after selling 499 shares during the period. Sara Bay Financial’s holdings in PepsiCo were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PEP. Ossiam grew its holdings in PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company’s stock worth $11,192,000 after acquiring an additional 42,793 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock worth $18,977,000 after acquiring an additional 13,461 shares in the last quarter. Hutner Capital Management Inc. boosted its stake in shares of PepsiCo by 14.6% during the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock valued at $8,178,000 after purchasing an additional 6,865 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $47,899,000. Finally, WCM Investment Management LLC boosted its stake in shares of PepsiCo by 147.6% during the fourth quarter. WCM Investment Management LLC now owns 14,692 shares of the company’s stock valued at $2,229,000 after purchasing an additional 8,759 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $130.03 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The company has a market capitalization of $178.28 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The firm has a 50-day simple moving average of $136.15 and a 200-day simple moving average of $146.25. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.38%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group dropped their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Bank of America dropped their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. Citigroup cut their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $160.69.

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.