Reliant Investment Management LLC Sells 9,532 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Reliant Investment Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 79.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,470 shares of the company’s stock after selling 9,532 shares during the period. Reliant Investment Management LLC’s holdings in PepsiCo were worth $370,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Collier Financial bought a new position in PepsiCo during the fourth quarter valued at about $28,000. WealthTrak Capital Management LLC purchased a new position in PepsiCo in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo during the 4th quarter valued at approximately $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo during the 4th quarter worth approximately $30,000. Finally, Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $31,000. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. Citigroup lowered their target price on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. Bank of America reduced their target price 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. Finally, JPMorgan Chase & Co. upped their price target 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $160.69.

PepsiCo Trading Down 0.8%

Shares of PEP opened at $130.03 on Friday. The company’s fifty day simple moving average is $136.15 and its 200-day simple moving average is $146.25. The company has a market cap of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91.

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

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.38%. PepsiCo’s dividend payout ratio (DPR) is 83.68%.

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.