First City Capital Management Inc. Sells 184 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First City Capital Management Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 6,274 shares of the company’s stock after selling 184 shares during the quarter. First City Capital Management Inc.’s holdings in PepsiCo were worth $1,035,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PEP. Capital Advisors Ltd. LLC increased its position in PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares in the last quarter. Norden Group LLC grew its stake in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the last quarter. Marion Wealth Management increased its holdings in shares of PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after acquiring an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after purchasing an additional 11,485 shares in the last quarter. Finally, Meyer Handelman Co. grew its position in PepsiCo by 3.9% during the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after purchasing an additional 9,465 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. Bank of America dropped their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. TD Cowen dropped their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $185.53.

PepsiCo Trading Down 2.0 %

PEP stock opened at $171.18 on Friday. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm has a market cap of $235.13 billion, a P/E ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53. The company’s 50-day simple moving average is $173.51 and its 200-day simple moving average is $171.81.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the prior year, the business posted $2.09 earnings per share. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.17%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.