Daymark Wealth Partners LLC Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Daymark Wealth Partners LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 67,121 shares of the company’s stock after selling 16,366 shares during the quarter. Daymark Wealth Partners LLC’s holdings in PepsiCo were worth $10,064,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new stake in PepsiCo during the 4th quarter valued at $28,000. Collier Financial purchased a new stake in shares of PepsiCo during the fourth quarter valued at $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo in the 4th quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo in the 4th quarter worth about $30,000. Finally, Measured Risk Portfolios Inc. bought a new position in PepsiCo during the 4th quarter valued at about $31,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $130.03 on Monday. The company has a market capitalization of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The firm’s 50 day simple moving average is $136.15 and its two-hundred day simple moving average is $146.06. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

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

PepsiCo Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PEP shares. Bank of America reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Barclays cut their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Morgan Stanley lowered their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. Finally, Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $160.69.

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.