West Coast Financial LLC Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

West Coast Financial LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,076 shares of the company’s stock after selling 2,728 shares during the period. West Coast Financial LLC’s holdings in PepsiCo were worth $8,258,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Annex Advisory Services LLC boosted its position in PepsiCo by 4.5% in the 1st quarter. Annex Advisory Services LLC now owns 5,565 shares of the company’s stock worth $834,000 after purchasing an additional 241 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of PepsiCo by 19.6% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 21,164 shares of the company’s stock valued at $3,173,000 after buying an additional 3,475 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of PepsiCo by 25.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 3,114 shares of the company’s stock valued at $467,000 after buying an additional 622 shares in the last quarter. Diligent Investors LLC lifted its position in shares of PepsiCo by 2.5% during the 1st quarter. Diligent Investors LLC now owns 7,649 shares of the company’s stock valued at $1,147,000 after buying an additional 187 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its position in shares of PepsiCo by 3.0% during the 1st quarter. Naples Global Advisors LLC now owns 25,678 shares of the company’s stock valued at $3,850,000 after buying an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.5%

Shares of PEP opened at $131.11 on Friday. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The company has a market capitalization of $179.76 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The stock has a fifty day simple moving average of $136.54 and a two-hundred day simple moving average of $146.43. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results 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 return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the business earned $1.61 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.34%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PEP shares. Barclays decreased their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Citigroup decreased their target price on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Finally, Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $160.69.

Read Our Latest Research Report on PEP

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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