City Holding Co. Sells 1,129 Shares of PepsiCo, Inc. (NASDAQ:PEP)

City Holding Co. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,860 shares of the company’s stock after selling 1,129 shares during the period. PepsiCo accounts for about 0.9% of City Holding Co.’s investment portfolio, making the stock its 29th largest position. City Holding Co.’s holdings in PepsiCo were worth $5,751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amplius Wealth Advisors LLC grew its position in shares of PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after buying an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in shares of PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp grew its position in shares of PepsiCo by 2.7% in the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after buying an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC grew its position in PepsiCo by 2.3% during the 4th quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after purchasing an additional 61 shares during the last quarter. Finally, Security Financial Services INC. grew its position in PepsiCo by 1.6% during the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday. They set a “neutral” rating and a $174.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Wedbush restated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $186.15.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by insiders.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $1.32 during midday trading on Monday, hitting $168.60. The company had a trading volume of 514,368 shares, compared to its average volume of 5,484,418. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The business has a 50-day simple moving average of $173.71 and a two-hundred day simple moving average of $170.36. The firm has a market capitalization of $231.79 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same period last year, the firm posted $1.50 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

PepsiCo Profile

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.