PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Sage Rhino Capital LLC

Sage Rhino Capital LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,581 shares of the company’s stock after selling 84 shares during the period. Sage Rhino Capital LLC’s holdings in PepsiCo were worth $269,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in PepsiCo by 9,623.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after purchasing an additional 3,026,611 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at approximately $329,179,000. Flossbach Von Storch AG increased its stake in shares of PepsiCo by 121.4% in the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after buying an additional 1,495,586 shares during the last quarter. California Public Employees Retirement System boosted its stake in PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in PepsiCo by 68.0% during the 4th quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock worth $496,382,000 after acquiring an additional 1,183,371 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Jefferies Financial Group upped their price target on PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Stock Performance

NASDAQ:PEP traded down $0.23 during mid-day trading on Tuesday, hitting $175.91. The stock had a trading volume of 4,465,101 shares, compared to its average volume of 5,806,826. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $196.88. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $241.84 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.86 and a beta of 0.53. The company has a 50 day simple moving average of $169.74 and a 200-day simple moving average of $168.16.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is currently 76.09%.

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.