InTrack Investment Management Inc Trims Holdings in PepsiCo, Inc. (NASDAQ:PEP)

InTrack Investment Management Inc lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,074 shares of the company’s stock after selling 652 shares during the quarter. InTrack Investment Management Inc’s holdings in PepsiCo were worth $461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in PepsiCo in the fourth quarter valued at $224,000. Brighton Jones LLC raised its holdings in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in PepsiCo in the 4th quarter worth about $9,268,000. Strategic Financial Concepts LLC acquired a new position in PepsiCo during the fourth quarter worth approximately $162,000. Finally, Entropy Technologies LP acquired a new stake in shares of PepsiCo during the 4th quarter worth $883,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $131.83 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The stock has a 50 day moving average of $135.37 and a 200-day moving average of $145.74. The stock has a market cap of $180.75 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP) last issued 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 return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the business posted $1.61 EPS. PepsiCo’s revenue was down 1.8% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid 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 of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.32%. PepsiCo’s payout ratio is presently 83.68%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. JPMorgan Chase & Co. increased their price target on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a report on Monday, April 21st. Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. Finally, UBS Group lowered their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average price target 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.