Allstate Corp Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Allstate Corp lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,765 shares of the company’s stock after selling 263 shares during the period. Allstate Corp’s holdings in PepsiCo were worth $809,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. LFA Lugano Financial Advisors SA grew its position in shares of PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after buying an additional 70 shares in the last quarter. Life Planning Partners Inc purchased a new stake in PepsiCo in the fourth quarter valued at approximately $34,000. Naples Money Management LLC purchased a new stake in PepsiCo in the fourth quarter valued at approximately $36,000. Criterion Capital Advisors LLC purchased a new stake in PepsiCo in the fourth quarter valued at approximately $39,000. Finally, Avion Wealth lifted its stake in PepsiCo by 61.7% in the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock valued at $41,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.1 %

PEP traded down $1.96 during mid-day trading on Thursday, reaching $180.13. The stock had a trading volume of 1,140,337 shares, compared to its average volume of 5,458,245. The stock has a market capitalization of $247.64 billion, a P/E ratio of 27.19, a P/E/G ratio of 2.95 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The firm’s fifty day simple moving average is $174.02 and its two-hundred day simple moving average is $170.00. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter last year, the business posted $1.50 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that PepsiCo, Inc. will post 8.17 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.01%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a report on Monday, February 12th. JPMorgan Chase & Co. upped their target price on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Jefferies Financial Group upped their price objective on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. Finally, StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $187.58.

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.