Laraway Financial Advisors Inc Sells 249 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Laraway Financial Advisors Inc trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,167 shares of the company’s stock after selling 249 shares during the quarter. Laraway Financial Advisors Inc’s holdings in PepsiCo were worth $760,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Clear Investment Research LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at approximately $25,000. Freedom Wealth Alliance LLC bought a new stake in PepsiCo during the fourth quarter worth $29,000. Silicon Valley Capital Partners bought a new position in shares of PepsiCo in the 4th quarter valued at $36,000. Carderock Capital Management Inc. acquired a new stake in PepsiCo in the first quarter valued at about $36,000. Finally, Kepos Capital LP acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $40,000. 71.40% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.8 %

NASDAQ PEP opened at $179.68 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.84 and a debt-to-equity ratio of 2.02. The stock’s 50-day simple moving average is $182.85 and its two-hundred day simple moving average is $184.59. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88. The company has a market capitalization of $247.34 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 2.90 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.13. The company had revenue of $22.32 billion for the quarter, compared to analysts’ expectations of $21.73 billion. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. PepsiCo’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $1.86 EPS. Research analysts forecast that PepsiCo, Inc. will post 7.48 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, August 31st. PepsiCo’s dividend payout ratio is currently 88.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PEP shares. Royal Bank of Canada upped their price target on shares of PepsiCo from $178.00 to $180.00 in a report on Friday, July 14th. Barclays lowered their price objective on PepsiCo from $206.00 to $198.00 in a research report on Monday, July 10th. Argus boosted their price objective on PepsiCo from $206.00 to $212.00 in a research note on Friday, July 14th. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price target for the company. in a report on Monday, July 17th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $193.00 to $195.00 in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $192.00.

PepsiCo Profile

PepsiCo, Inc manufactures, markets, distributes, and sells 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.