Ballentine Partners LLC Sells 1,089 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Ballentine Partners LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,477 shares of the company’s stock after selling 1,089 shares during the quarter. Ballentine Partners LLC’s holdings in PepsiCo were worth $4,120,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo during the fourth quarter valued at about $28,000. Elite Financial Inc. bought a new position in shares of PepsiCo during the first quarter valued at about $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo in the fourth quarter worth about $30,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo in the fourth quarter worth about $31,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo in the fourth quarter worth about $33,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.6%

NASDAQ:PEP opened at $135.26 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. The company has a market cap of $185.45 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 4.26 and a beta of 0.45. The company has a 50 day simple moving average of $131.49 and a two-hundred day simple moving average of $141.65.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued 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). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the firm earned $1.61 EPS. The company’s revenue was down 1.8% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.21%. PepsiCo’s payout ratio is presently 83.68%.

Analysts Set New Price Targets

Several analysts recently issued reports on PEP shares. Barclays cut their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. cut their target price on PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Bank of America lowered their price objective on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Friday. Finally, Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.19.

View Our Latest Analysis on PepsiCo

PepsiCo Profile

(Free Report)

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.

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