Novare Capital Management LLC Sells 5,702 Shares of PepsiCo, Inc. $PEP

Novare Capital Management LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 56,156 shares of the company’s stock after selling 5,702 shares during the period. Novare Capital Management LLC’s holdings in PepsiCo were worth $8,720,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PEP. Brighton Jones LLC lifted its holdings in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after buying an additional 6,574 shares during the period. Caxton Associates LLP acquired a new stake in shares of PepsiCo in the first quarter valued at about $251,000. Sivia Capital Partners LLC raised its position in shares of PepsiCo by 138.5% during the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after acquiring an additional 3,790 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of PepsiCo by 10.1% in the second quarter. Schnieders Capital Management LLC. now owns 38,164 shares of the company’s stock worth $5,039,000 after acquiring an additional 3,502 shares during the period. Finally, Sei Investments Co. boosted its holdings in PepsiCo by 45.5% in the second quarter. Sei Investments Co. now owns 536,133 shares of the company’s stock valued at $70,789,000 after acquiring an additional 167,707 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $140.71 on Tuesday. The stock has a market capitalization of $192.32 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.83 and a beta of 0.35. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The stock’s 50 day moving average price is $149.56 and its two-hundred day moving average price is $152.20.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.06. The business had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. PepsiCo’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.48 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is 92.94%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Evercore raised their price target on shares of PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Wednesday, April 8th. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $173.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays upped their price target on shares of PepsiCo from $154.00 to $158.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.10.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.