PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 82,154 shares of the company’s stock after selling 1,688 shares during the quarter. PepsiCo comprises approximately 3.1% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 10th biggest holding. First Fiduciary Investment Counsel Inc.’s holdings in PepsiCo were worth $13,953,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PEP. Amplius Wealth Advisors LLC boosted its stake in shares of PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after buying an additional 60 shares during the last quarter. Darwin Wealth Management LLC raised its holdings in PepsiCo by 2.7% in the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock worth $397,000 after purchasing an additional 61 shares during the period. Sugarloaf Wealth Management LLC raised its holdings in PepsiCo by 2.6% in 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. Beacon Financial Advisory LLC raised its holdings in PepsiCo by 3.1% in the 3rd quarter. Beacon Financial Advisory LLC now owns 2,135 shares of the company’s stock worth $362,000 after purchasing an additional 65 shares during the period. Finally, Pathway Financial Advisors LLC raised its holdings in PepsiCo by 4.5% in the 3rd quarter. Pathway Financial Advisors LLC now owns 1,506 shares of the company’s stock worth $255,000 after purchasing an additional 65 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the topic of a number of recent research reports. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $180.00 price target on shares of PepsiCo in a report on Monday, February 12th. Jefferies Financial Group lifted their target price on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $195.00 in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Stock Down 0.6 %

Shares of NASDAQ PEP opened at $175.58 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The firm has a market capitalization of $241.39 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.88 and a beta of 0.53. The stock has a 50 day moving average price of $169.40 and a 200 day moving average price of $167.86. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is 76.09%.

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.