Brighton Jones LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Brighton Jones LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 57,318 shares of the company’s stock after selling 2,074 shares during the period. Brighton Jones LLC’s holdings in PepsiCo were worth $8,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo in the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo in the 4th quarter worth approximately $30,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo in the 4th quarter worth approximately $31,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo in the 4th quarter worth approximately $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PEP opened at $130.85 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a market cap of $179.41 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The firm’s fifty day simple moving average is $134.63 and its two-hundred day simple moving average is $145.08.

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). The company had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.61 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $1.4225 dividend. This is an increase 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 dividend payout ratio (DPR) is currently 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research reports. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. UBS Group cut their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $163.00 price target on shares of PepsiCo in a report on Tuesday, April 22nd. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. Finally, Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus 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.