McElhenny Sheffield Capital Management LLC Sells 3,759 Shares of PepsiCo, Inc. (NASDAQ:PEP)

McElhenny Sheffield Capital Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 31.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,141 shares of the company’s stock after selling 3,759 shares during the period. PepsiCo comprises about 0.5% of McElhenny Sheffield Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. McElhenny Sheffield Capital Management LLC’s holdings in PepsiCo were worth $1,221,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Allen Mooney & Barnes Investment Advisors LLC raised its holdings in PepsiCo by 6.1% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 48,299 shares of the company’s stock worth $7,242,000 after purchasing an additional 2,786 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in PepsiCo by 5.3% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 48,990 shares of the company’s stock valued at $7,346,000 after purchasing an additional 2,458 shares during the period. Davis Investment Partners LLC purchased a new stake in PepsiCo in the first quarter worth about $691,000. Net Worth Advisory Group raised its stake in shares of PepsiCo by 11.5% in the first quarter. Net Worth Advisory Group now owns 10,318 shares of the company’s stock worth $1,547,000 after buying an additional 1,065 shares during the period. Finally, apricus wealth LLC lifted its position in shares of PepsiCo by 2.6% during the 1st quarter. apricus wealth LLC now owns 3,644 shares of the company’s stock valued at $546,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $129.90 on Thursday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The business has a 50 day simple moving average of $135.04 and a two-hundred day simple moving average of $145.63. The stock has a market capitalization of $178.10 billion, a PE ratio of 18.69, a P/E/G ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. On average, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.38%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. Dbs Bank cut shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Morgan Stanley reduced their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. Finally, UBS Group decreased their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $160.69.

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.