Northcape Wealth Management LLC Sells 163 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Northcape Wealth Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,615 shares of the company’s stock after selling 163 shares during the quarter. PepsiCo accounts for approximately 2.1% of Northcape Wealth Management LLC’s holdings, making the stock its 11th biggest holding. Northcape Wealth Management LLC’s holdings in PepsiCo were worth $5,879,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PEP. Sunesis Advisors LLC purchased a new position in PepsiCo during the 3rd quarter valued at $1,026,000. Golden State Equity Partners boosted its holdings in shares of PepsiCo by 6.5% during the 3rd quarter. Golden State Equity Partners now owns 8,031 shares of the company’s stock valued at $1,361,000 after buying an additional 489 shares in the last quarter. Signet Investment Advisory Group Inc. boosted its holdings in shares of PepsiCo by 5.7% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 12,384 shares of the company’s stock valued at $2,098,000 after buying an additional 670 shares in the last quarter. Bfsg LLC boosted its holdings in shares of PepsiCo by 4.4% during the 3rd quarter. Bfsg LLC now owns 15,431 shares of the company’s stock valued at $2,615,000 after buying an additional 655 shares in the last quarter. Finally, One Day In July LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at $255,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PEP. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Barclays upped their target price on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group upped their target price on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Stock Performance

NASDAQ PEP traded down $0.23 on Tuesday, reaching $175.91. 4,465,101 shares of the stock were exchanged, compared to its average volume of 5,806,826. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $196.88. The firm has a market capitalization of $241.84 billion, a PE ratio of 26.42, a PEG ratio of 2.86 and a beta of 0.53. The company’s 50-day simple moving average is $169.60 and its two-hundred day simple moving average is $168.05. 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 (NASDAQ:PEP) last released its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 EPS. Analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. PepsiCo’s dividend payout ratio (DPR) is 76.09%.

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.