Sone Capital Management LLC Takes $20.28 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Sone Capital Management LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 133,342 shares of the company's stock, valued at approximately $20,276,000. PepsiCo makes up about 2.6% of Sone Capital Management LLC's investment portfolio, making the stock its 5th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tcfg Wealth Management LLC increased its position in shares of PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock worth $295,000 after acquiring an additional 66 shares in the last quarter. Lincoln Capital LLC increased its position in shares of PepsiCo by 0.4% in the fourth quarter. Lincoln Capital LLC now owns 16,808 shares of the company's stock worth $2,556,000 after acquiring an additional 70 shares in the last quarter. Marshall Financial Group LLC increased its position in shares of PepsiCo by 2.3% in the fourth quarter. Marshall Financial Group LLC now owns 3,128 shares of the company's stock worth $476,000 after acquiring an additional 70 shares in the last quarter. Osprey Private Wealth LLC grew its position in PepsiCo by 0.5% during the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock valued at $2,290,000 after purchasing an additional 70 shares in the last quarter. Finally, TAGStone Capital Inc. grew its position in PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock valued at $388,000 after purchasing an additional 70 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PEP. Morgan Stanley lowered their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Barclays lowered their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. Finally, HSBC decreased their target price on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo presently has an average rating of "Hold" and an average price target of $160.69.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $1.65 on Wednesday, reaching $130.15. The stock had a trading volume of 9,238,122 shares, compared to its average volume of 6,432,717. The business's 50-day moving average price is $140.72 and its two-hundred day moving average price is $149.07. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a fifty-two week low of $127.87 and a fifty-two week high of $182.13. The stock has a market cap of $178.45 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 earnings per share. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.37%. The ex-dividend date is Friday, June 6th. PepsiCo's dividend payout ratio is presently 83.68%.

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.