SeaCrest Wealth Management LLC Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

SeaCrest Wealth Management LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 2.0% in the 1st quarter, HoldingsChannel reports. The fund owned 25,744 shares of the company’s stock after selling 515 shares during the period. SeaCrest Wealth Management LLC’s holdings in PepsiCo were worth $3,860,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PEP. Tcfg Wealth Management LLC grew its holdings in PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after buying an additional 66 shares during the period. TAGStone Capital Inc. increased its stake in PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after acquiring an additional 70 shares during the last quarter. Lokken Investment Group LLC raised its holdings in shares of PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock worth $1,171,000 after purchasing an additional 70 shares during the period. Leavell Investment Management Inc. increased its position in PepsiCo by 0.3% during the 4th quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company’s stock worth $4,271,000 after purchasing an additional 71 shares in the last quarter. Finally, Legacy Financial Group LLC grew its stake in PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PEP shares. Citigroup cut their price target on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. 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 report on Friday, April 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $163.00 price target on shares of PepsiCo in a research report on Tuesday, April 22nd. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Finally, Barclays dropped 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $160.69.

Read Our Latest Stock Analysis on PepsiCo

PepsiCo Trading Down 0.5%

Shares of NASDAQ:PEP opened at $131.11 on Friday. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a market cap of $179.76 billion, a PE ratio of 18.86, a P/E/G ratio of 3.09 and a beta of 0.47. The company’s 50-day moving average price is $136.54 and its 200 day moving average price is $146.43.

PepsiCo (NASDAQ:PEP – Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is currently 83.68%.

About PepsiCo

(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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