PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Avanza Fonder AB

Avanza Fonder AB cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.2% in the first quarter, Holdings Channel reports. The fund owned 130,095 shares of the company’s stock after selling 14,734 shares during the period. PepsiCo accounts for about 0.6% of Avanza Fonder AB’s portfolio, making the stock its 23rd largest holding. Avanza Fonder AB’s holdings in PepsiCo were worth $19,400,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sonora Investment Management Group LLC lifted its position in shares of PepsiCo by 0.3% during the first quarter. Sonora Investment Management Group LLC now owns 101,777 shares of the company’s stock worth $15,260,000 after purchasing an additional 272 shares in the last quarter. Accurate Wealth Management LLC raised its stake in shares of PepsiCo by 6.3% in the first quarter. Accurate Wealth Management LLC now owns 10,425 shares of the company’s stock valued at $1,506,000 after acquiring an additional 616 shares in the last quarter. Fiduciary Financial Group LLC boosted its holdings in PepsiCo by 59.7% in the first quarter. Fiduciary Financial Group LLC now owns 2,957 shares of the company’s stock valued at $426,000 after purchasing an additional 1,105 shares during the period. Simplicity Wealth LLC boosted its stake in shares of PepsiCo by 304.4% in the 1st quarter. Simplicity Wealth LLC now owns 29,059 shares of the company’s stock valued at $4,357,000 after buying an additional 21,873 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of PepsiCo by 28.1% during the first quarter. GAMMA Investing LLC now owns 30,603 shares of the company’s stock worth $4,589,000 after buying an additional 6,712 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PepsiCo stock opened at $129.96 on Tuesday. The firm has a market capitalization of $178.19 billion, a PE ratio of 18.70, a P/E/G ratio of 3.09 and a beta of 0.45. 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 firm’s 50-day simple moving average is $135.76 and its 200 day simple moving average is $145.84. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share 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 last year, the firm posted $1.61 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared 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 is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.38%. PepsiCo’s dividend payout ratio is 83.68%.

Wall Street Analyst Weigh In

PEP has been the subject of several analyst reports. Bank of America lowered their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $163.00 price objective on shares of PepsiCo in a research note on Tuesday, April 22nd. Citigroup cut their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $160.69.

About PepsiCo

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.