Hager Investment Management Services LLC Sells 120 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Hager Investment Management Services LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 967 shares of the company’s stock after selling 120 shares during the quarter. Hager Investment Management Services LLC’s holdings in PepsiCo were worth $145,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PEP. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at about $28,000. Elite Financial Inc. acquired a new stake in PepsiCo in the first quarter valued at approximately $28,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo in the fourth quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo during the fourth quarter worth $31,000. Finally, Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PEP shares. Bank of America reduced their target price on PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday. Citigroup decreased their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Morgan Stanley dropped their target price on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a report on Thursday, July 10th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $158.19.

PepsiCo Price Performance

PepsiCo stock opened at $135.57 on Tuesday. The company’s fifty day moving average price is $131.56 and its 200 day moving average price is $141.38. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The stock has a market capitalization of $185.88 billion, a P/E ratio of 19.94, a P/E/G ratio of 4.23 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the business posted $1.61 EPS. PepsiCo’s revenue was down 1.8% compared to the same quarter last year. As a group, equities research 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 was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.20%. PepsiCo’s payout ratio is presently 83.68%.

PepsiCo 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.