Spinnaker Investment Group LLC Sells 137 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Spinnaker Investment Group LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,938 shares of the company’s stock after selling 137 shares during the period. Spinnaker Investment Group LLC’s holdings in PepsiCo were worth $441,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PEP. TAGStone Capital Inc. boosted its stake in PepsiCo by 2.8% in the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares in the last quarter. Lokken Investment Group LLC boosted its stake in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock worth $1,171,000 after purchasing an additional 70 shares in the last quarter. Legacy Financial Group LLC boosted its stake in PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after purchasing an additional 71 shares in the last quarter. Atlantic Private Wealth LLC boosted its stake in PepsiCo by 37.5% in the fourth quarter. Atlantic Private Wealth LLC now owns 275 shares of the company’s stock worth $42,000 after purchasing an additional 75 shares in the last quarter. Finally, Pflug Koory LLC boosted its stake in PepsiCo by 1.0% in the first quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock worth $1,162,000 after purchasing an additional 76 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP opened at $129.07 on Monday. The stock has a 50-day simple moving average of $133.19 and a 200 day simple moving average of $143.83. The company has a market capitalization of $176.97 billion, a PE ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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 58.28% and a net margin of 10.24%. The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.41%. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Analysts Set New Price Targets

PEP has been the topic of a number of recent analyst reports. Barclays reduced their price objective on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Bank of America cut their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. UBS Group cut their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price target on 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 an average price target of $160.69.

PepsiCo Company 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.