Stokes Family Office LLC Sells 9,830 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Stokes Family Office LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,177 shares of the company’s stock after selling 9,830 shares during the quarter. Stokes Family Office LLC’s holdings in PepsiCo were worth $5,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Amplius Wealth Advisors LLC increased its position in shares of PepsiCo by 2.8% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after acquiring an additional 60 shares during the last quarter. Darwin Wealth Management LLC increased its position in shares of PepsiCo by 2.7% during the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after purchasing an additional 61 shares during the last quarter. Sugarloaf Wealth Management LLC raised its stake in shares of PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares during the period. Capital Investment Counsel Inc grew its position in PepsiCo by 1.6% during the fourth quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock valued at $699,000 after buying an additional 64 shares during the period. Finally, Beacon Financial Advisory LLC increased its holdings in PepsiCo by 3.1% during the third quarter. Beacon Financial Advisory LLC now owns 2,135 shares of the company’s stock worth $362,000 after buying an additional 65 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEP. Morgan Stanley upgraded 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 note on Monday, March 18th. Deutsche Bank Aktiengesellschaft boosted their target price on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Jefferies Financial Group lifted their price objective on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Finally, Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and boosted their price target for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, PepsiCo has an average rating of “Moderate Buy” and an average price target of $187.42.

PepsiCo Price Performance

PepsiCo stock traded up $0.70 during midday trading on Friday, reaching $176.15. 3,491,857 shares of the stock were exchanged, compared to its average volume of 5,741,471. The company’s fifty day moving average is $170.01 and its 200-day moving average is $168.26. 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, Inc. has a 52 week low of $155.83 and a 52 week high of $196.88. The firm has a market cap of $242.17 billion, a PE ratio of 26.49, a PEG ratio of 2.86 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $18.08 billion. During the same quarter last year, the business posted $1.50 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $1.355 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.08%. PepsiCo’s payout ratio is presently 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.