Beese Fulmer Investment Management Inc. Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Beese Fulmer Investment Management Inc. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,486 shares of the company’s stock after selling 5,077 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in PepsiCo were worth $12,686,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Amplius Wealth Advisors LLC lifted its holdings in PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after acquiring an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position in PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares in the last quarter. SYM FINANCIAL Corp raised its stake in PepsiCo by 2.7% during the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after purchasing an additional 61 shares during the period. Clearwater Capital Advisors LLC boosted its position in shares of PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after buying an additional 61 shares during the period. Finally, Capital Investment Counsel Inc grew its holdings in shares of PepsiCo by 1.6% during the fourth quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock valued at $699,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Insider Buying and Selling at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were 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 directly owns 53,953 shares in the company, valued at approximately $9,603,634. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

PepsiCo Stock Up 0.2 %

PEP opened at $166.48 on Thursday. The firm has a market cap of $228.88 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 2.72 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 business has a 50 day moving average price of $173.76 and a 200 day moving average price of $170.36. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during 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%. PepsiCo’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 earnings per share. Research analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current 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 paid a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.26%. PepsiCo’s dividend payout ratio is presently 81.50%.

Analyst Ratings Changes

PEP has been the subject of several research analyst reports. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Monday, March 18th. Barclays lowered their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, Wedbush reiterated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average price target of $187.17.

PepsiCo Company 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.