Eagle Capital Management LLC Sells 367 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Eagle Capital Management LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 20,798 shares of the company’s stock after selling 367 shares during the quarter. PepsiCo comprises 1.6% of Eagle Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Eagle Capital Management LLC’s holdings in PepsiCo were worth $3,640,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. SRS Capital Advisors Inc. increased its position in PepsiCo by 22.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 4,044 shares of the company’s stock valued at $685,000 after purchasing an additional 748 shares during the period. Becker Capital Management Inc. increased its position in PepsiCo by 0.6% during the 3rd quarter. Becker Capital Management Inc. now owns 11,337 shares of the company’s stock valued at $1,921,000 after purchasing an additional 73 shares during the period. Axxcess Wealth Management LLC increased its position in PepsiCo by 78.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 56,081 shares of the company’s stock valued at $9,502,000 after purchasing an additional 24,726 shares during the period. Ameriprise Financial Inc. increased its position in PepsiCo by 2.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,876,920 shares of the company’s stock valued at $995,728,000 after purchasing an additional 121,742 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its position in PepsiCo by 8.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,258,829 shares of the company’s stock valued at $213,296,000 after purchasing an additional 100,650 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PEP shares. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Barclays cut their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Monday, March 18th. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Finally, Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $186.38.

PepsiCo Stock Performance

NASDAQ PEP traded up $0.71 on Tuesday, hitting $163.60. 346,932 shares of the company’s stock traded hands, compared to its average volume of 5,469,149. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38. The firm’s 50-day moving average price is $173.37 and its two-hundred day moving average price is $170.30. The firm has a market capitalization of $224.92 billion, a PE ratio of 24.49, a P/E/G ratio of 2.71 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same period in the previous year, the business posted $1.50 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $1.355 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s payout ratio is currently 81.50%.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

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.