PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,671 shares of the company’s stock after selling 537 shares during the period. Alpha Omega Wealth Management LLC’s holdings in PepsiCo were worth $3,093,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Cerity Partners LLC increased its holdings in shares of PepsiCo by 59.4% during the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after buying an additional 370,122 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of PepsiCo by 0.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock worth $4,747,000 after buying an additional 102 shares during the last quarter. Meadow Creek Wealth Advisors LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $405,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of PepsiCo by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after buying an additional 3,159 shares during the last quarter. Finally, Marion Wealth Management increased its holdings in shares of PepsiCo by 31.7% during the 4th quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock worth $1,340,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Insider Buying and Selling at PepsiCo

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

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $164.93 on Friday. The company’s fifty day moving average price is $173.37 and its 200 day moving average price is $170.31. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The firm has a market capitalization of $226.74 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.71 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. PepsiCo’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $1.50 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $1.355 dividend. The ex-dividend date was Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.29%. PepsiCo’s payout ratio is currently 81.50%.

Analysts Set New Price Targets

Several equities analysts have commented on PEP shares. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Wedbush reissued an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Barclays decreased their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $186.38.

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.