Sara Bay Financial Has $471,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sara Bay Financial cut its holdings in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 7.7% during the 1st quarter, HoldingsChannel reports. The fund owned 2,815 shares of the company’s stock after selling 236 shares during the quarter. Sara Bay Financial’s holdings in PepsiCo were worth $471,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PEP. Norges Bank acquired a new position in shares of PepsiCo in the fourth quarter valued at about $2,180,925,000. BlackRock Inc. grew its stake in shares of PepsiCo by 5.5% in the fourth quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock valued at $18,326,710,000 after acquiring an additional 5,454,097 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of PepsiCo by 24.8% in the third quarter. UBS Asset Management Americas Inc. now owns 9,226,501 shares of the company’s stock valued at $1,387,758,000 after acquiring an additional 1,834,683 shares in the last quarter. Sanders Capital LLC grew its stake in shares of PepsiCo by 34.3% in the fourth quarter. Sanders Capital LLC now owns 6,691,540 shares of the company’s stock valued at $1,285,136,000 after acquiring an additional 1,708,005 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of PepsiCo by 9.6% in the fourth quarter. Capital Research Global Investors now owns 18,698,968 shares of the company’s stock valued at $3,248,196,000 after acquiring an additional 1,634,702 shares in the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Guggenheim upped their price objective on shares of PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 27th. Wells Fargo & Company cut their price objective on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $173.00 to $175.00 in a research report on Wednesday, April 27th. Credit Suisse Group upped their price objective on shares of PepsiCo from $163.00 to $168.00 in a research report on Wednesday, April 27th. Finally, StockNews.com assumed coverage on shares of PepsiCo in a research report on Thursday, March 31st. They set a “buy” rating for the company. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.13.

PepsiCo stock opened at $162.03 on Thursday. The business has a 50 day moving average of $166.98 and a 200-day moving average of $168.10. PepsiCo, Inc. has a 1 year low of $144.61 and a 1 year high of $177.62. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.87 and a quick ratio of 0.68. The company has a market capitalization of $224.04 billion, a P/E ratio of 22.17, a P/E/G ratio of 3.12 and a beta of 0.59.

PepsiCo (NASDAQ:PEPGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. PepsiCo had a return on equity of 53.44% and a net margin of 12.57%. The company had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.54 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that PepsiCo, Inc. will post 6.64 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $4.60 annualized dividend and a dividend yield of 2.84%. This is an increase from PepsiCo’s previous quarterly dividend of $1.08. PepsiCo’s dividend payout ratio is currently 62.93%.

In other PepsiCo news, EVP David Flavell sold 5,150 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $175.11, for a total transaction of $901,816.50. Following the completion of the sale, the executive vice president now owns 28,275 shares of the company’s stock, valued at approximately $4,951,235.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eugene Willemsen sold 4,560 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $175.61, for a total transaction of $800,781.60. Following the sale, the chief executive officer now directly owns 8,277 shares of the company’s stock, valued at approximately $1,453,523.97. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

PepsiCo Profile (Get Rating)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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