Silverlake Wealth Management LLC Sells 1,603 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Silverlake Wealth Management LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 41.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,262 shares of the company’s stock after selling 1,603 shares during the quarter. Silverlake Wealth Management LLC’s holdings in PepsiCo were worth $396,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Amplius Wealth Advisors LLC boosted its stake in shares of PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after buying an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its position in PepsiCo by 2.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares during the last quarter. SYM FINANCIAL Corp grew its stake in PepsiCo by 2.7% in 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 increased its position in shares of PepsiCo by 2.3% during the 4th quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock valued at $468,000 after purchasing an additional 61 shares during the last quarter. Finally, Security Financial Services INC. boosted its holdings in shares of PepsiCo by 1.6% in the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after buying an additional 61 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Up 0.4 %

Shares of PEP stock opened at $163.58 on Wednesday. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $192.38. The business’s fifty day moving average is $173.10 and its 200 day moving average is $170.26. 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 company has a market capitalization of $224.89 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 2.71 and a beta of 0.52.

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. The company had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.50 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.31%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

Insider Buying and Selling

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the 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 transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on PEP. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Monday, March 18th. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Finally, Barclays decreased their price objective on PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $186.38.

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.