Janney Capital Management LLC Sells 2,597 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Janney Capital Management LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,491 shares of the company’s stock after selling 2,597 shares during the quarter. Janney Capital Management LLC’s holdings in PepsiCo were worth $13,037,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of PepsiCo during the fourth quarter valued at about $2,686,139,000. International Assets Investment Management LLC increased its stake in PepsiCo by 9,623.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after purchasing an additional 3,026,611 shares during the period. Flossbach Von Storch AG boosted its stake in shares of PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after purchasing an additional 1,495,586 shares during the period. California Public Employees Retirement System grew its holdings in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after buying an additional 1,345,065 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PEP. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Barclays lowered their price target on PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.64.

Insider Buying and Selling

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s 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 transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

PepsiCo Stock Up 1.1 %

Shares of NASDAQ PEP traded up $1.79 on Friday, reaching $164.39. 4,208,217 shares of the company’s stock traded hands, compared to its average volume of 4,996,291. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The business’s 50 day simple moving average is $172.15 and its two-hundred day simple moving average is $170.10. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The company has a market cap of $226.00 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating 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 business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the business earned $1.50 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.30%. PepsiCo’s dividend payout ratio is presently 81.50%.

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.