Sunburst Financial Group LLC Sells 173 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sunburst Financial Group LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,792 shares of the company’s stock after selling 173 shares during the quarter. Sunburst Financial Group LLC’s holdings in PepsiCo were worth $1,002,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC increased its holdings in PepsiCo by 59.4% during the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after purchasing an additional 370,122 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of PepsiCo by 0.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock worth $4,747,000 after buying an additional 102 shares in the last quarter. Meadow Creek Wealth Advisors LLC acquired a new stake in PepsiCo in the 4th quarter valued at approximately $405,000. Householder Group Estate & Retirement Specialist LLC boosted its position in PepsiCo by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after acquiring an additional 3,159 shares during the last quarter. Finally, Marion Wealth Management grew its stake in shares of PepsiCo by 31.7% during the 4th quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock worth $1,340,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a report on Wednesday. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. BNP Paribas initiated coverage on PepsiCo in a research report on Monday. They issued a “neutral” rating and a $174.00 target price on the stock. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Finally, Wedbush reiterated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $186.38.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $0.77 during mid-day trading on Friday, reaching $165.49. 1,131,153 shares of the company were exchanged, compared to its average volume of 5,456,717. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The stock has a market capitalization of $227.51 billion, a P/E ratio of 24.97, a P/E/G ratio of 2.74 and a beta of 0.52. The company’s 50-day simple moving average is $173.68 and its 200-day simple moving average is $170.35. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96.

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

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is presently 81.50%.

Insider Buying and Selling at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% 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.