PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,982 shares of the company’s stock after selling 5,117 shares during the quarter. PepsiCo comprises about 1.0% of First Financial Bank Trust Division’s investment portfolio, making the stock its 24th biggest holding. First Financial Bank Trust Division’s holdings in PepsiCo were worth $9,893,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Tcfg Wealth Management LLC boosted its stake in PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after purchasing an additional 66 shares during the period. Osprey Private Wealth LLC boosted its stake in PepsiCo by 0.5% in the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock worth $2,290,000 after purchasing an additional 70 shares during the period. TAGStone Capital Inc. boosted its stake in PepsiCo by 2.8% in the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares during the period. Lokken Investment Group LLC boosted its stake in shares of PepsiCo by 0.9% during the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock valued at $1,171,000 after buying an additional 70 shares during the period. Finally, Leavell Investment Management Inc. boosted its stake in shares of PepsiCo by 0.3% during the 4th quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company’s stock valued at $4,271,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $130.67 on Thursday. The firm’s 50-day moving average is $138.55 and its 200-day moving average is $147.72. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market cap of $179.16 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s payout ratio is 83.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PEP shares. Barclays decreased their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Bank of America reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. Finally, Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $160.69.

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.