Tobam Sells 2,295 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Tobam trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 62.5% in the 1st quarter, Holdings Channel reports. The fund owned 1,379 shares of the company’s stock after selling 2,295 shares during the quarter. Tobam’s holdings in PepsiCo were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new position in shares of PepsiCo in the fourth quarter valued at $224,000. Brighton Jones LLC lifted its holdings in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after acquiring an additional 6,574 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of PepsiCo during the 4th quarter valued at about $9,268,000. Mcrae Capital Management Inc. increased its stake in PepsiCo by 1.0% in the fourth quarter. Mcrae Capital Management Inc. now owns 10,063 shares of the company’s stock valued at $1,530,000 after acquiring an additional 97 shares during the period. Finally, Vontobel Holding Ltd. raised its position in PepsiCo by 62.4% in the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock worth $458,324,000 after purchasing an additional 1,157,835 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of a number of recent research reports. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. UBS Group reduced their target price on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Bank of America dropped their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Finally, Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus target price of $160.69.

PepsiCo Trading Down 1.1%

PEP opened at $130.85 on Friday. The firm’s fifty day moving average is $134.63 and its two-hundred day moving average is $145.20. The firm has a market cap of $179.41 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month 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.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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%. PepsiCo’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

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