Parkside Investments LLC Sells 2,000 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Parkside Investments LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 50.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,000 shares of the company’s stock after selling 2,000 shares during the quarter. Parkside Investments LLC’s holdings in PepsiCo were worth $350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 3.1% in the 4th 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 during the period. Norges Bank bought a new position in shares of PepsiCo in the fourth quarter valued at approximately $2,686,139,000. California Public Employees Retirement System boosted its position in shares of PepsiCo by 17.9% during 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 during the last quarter. Franklin Resources Inc. raised its position in PepsiCo by 17.7% in the 4th 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in PepsiCo by 15.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after acquiring an additional 1,105,127 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEP. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays reduced their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. BNP Paribas started coverage on PepsiCo in a report on Monday. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Wedbush restated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $186.38.

PepsiCo Trading Down 0.4 %

Shares of NASDAQ PEP traded down $0.68 during midday trading on Wednesday, hitting $166.67. 2,052,451 shares of the company traded hands, compared to its average volume of 5,478,702. 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 12-month low of $155.83 and a 12-month high of $192.38. The stock has a 50-day moving average price of $173.73 and a 200 day moving average price of $170.37. The firm has a market cap of $229.14 billion, a P/E ratio of 24.89, a P/E/G ratio of 2.75 and a beta of 0.52.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $1.355 dividend. 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 3.25%. The ex-dividend date of this dividend is Friday, June 7th. PepsiCo’s payout ratio is presently 81.50%.

Insider Transactions at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The shares were 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 owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

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.