Headinvest LLC Sells 1,555 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Headinvest LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,317 shares of the company’s stock after selling 1,555 shares during the quarter. PepsiCo makes up approximately 1.3% of Headinvest LLC’s holdings, making the stock its 24th biggest holding. Headinvest LLC’s holdings in PepsiCo were worth $6,739,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PEP. Vanguard Group Inc. increased its stake in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after buying an additional 1,376,133 shares during the period. Geode Capital Management LLC boosted its holdings in PepsiCo by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after acquiring an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Norges Bank bought a new stake in shares of PepsiCo during the 4th quarter valued at about $2,729,565,000. Finally, Northern Trust Corp increased its position in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after buying an additional 1,306,818 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $130.15 on Thursday. PepsiCo, Inc. has a 1-year low of $127.87 and a 1-year high of $182.13. The business’s fifty day moving average price is $140.35 and its 200-day moving average price is $148.94. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $178.45 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) 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 analysts’ expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $1.4225 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. 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 4.37%. PepsiCo’s dividend payout ratio is presently 83.68%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PEP shares. Citigroup cut their price objective on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. HSBC lowered their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Finally, Wells Fargo & Company lowered their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price 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.