Kesler Norman & Wride LLC Sells 1,359 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Kesler Norman & Wride LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,877 shares of the company’s stock after selling 1,359 shares during the period. Kesler Norman & Wride LLC’s holdings in PepsiCo were worth $3,479,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEP. LFA Lugano Financial Advisors SA raised its holdings in shares of PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after purchasing an additional 70 shares during the last quarter. Fortis Group Advisors LLC raised its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in PepsiCo in the first quarter worth about $35,000. Life Planning Partners Inc bought a new stake in PepsiCo during the 4th quarter worth approximately $34,000. Finally, Naples Money Management LLC purchased a new stake in PepsiCo in the 4th quarter worth $36,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PepsiCo stock traded up $0.48 during trading on Friday, hitting $163.08. 439,205 shares of the company’s stock were exchanged, compared to its average volume of 5,442,153. The stock has a market capitalization of $224.20 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.67 and a beta of 0.52. The business has a 50-day simple moving average of $172.37 and a 200-day simple moving average of $170.13. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, June 7th. PepsiCo’s payout ratio is 81.50%.

Insider Buying and Selling at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen dropped their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group boosted their target price on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. upped their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a report on Wednesday, June 26th. Wedbush restated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Finally, Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Monday, March 18th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.64.

PepsiCo Company 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.