PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEPFree Report) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,636 shares of the company’s stock after selling 75 shares during the period. Argus Investors Counsel Inc.’s holdings in PepsiCo were worth $1,511,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after buying an additional 578,083 shares in the last quarter. Northern Trust Corp raised its stake in PepsiCo by 3.7% in the third quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock valued at $2,859,812,000 after buying an additional 595,357 shares in the last quarter. Norges Bank acquired a new stake in PepsiCo in the fourth quarter valued at $2,686,139,000. California Public Employees Retirement System raised its stake in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays raised their price target on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and an average price target of $187.58.

Check Out Our Latest Research Report on PEP

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $2.82 during midday trading on Thursday, reaching $179.27. 4,008,732 shares of the company were exchanged, compared to its average volume of 5,482,663. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38. The stock has a fifty day simple moving average of $174.31 and a 200 day simple moving average of $170.06. The stock has a market cap of $246.46 billion, a P/E ratio of 26.96, a PEG ratio of 2.95 and a beta of 0.52.

PepsiCo (NASDAQ:PEPGet Free Report) last released its quarterly earnings results 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 firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the company posted $1.50 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 8.17 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is currently 76.09%.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

About PepsiCo

(Free Report)

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.

Read More

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEPFree Report).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.