Agate Pass Investment Management LLC Acquires 3,294 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Agate Pass Investment Management LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 17.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 22,602 shares of the company's stock after purchasing an additional 3,294 shares during the period. PepsiCo makes up approximately 1.4% of Agate Pass Investment Management LLC's holdings, making the stock its 17th largest position. Agate Pass Investment Management LLC's holdings in PepsiCo were worth $3,389,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PEP. WealthTrak Capital Management LLC acquired a new stake in PepsiCo during the fourth quarter worth about $28,000. Collier Financial bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at $30,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the fourth quarter worth $30,000. Finally, Measured Risk Portfolios Inc. bought a new stake in PepsiCo in the 4th quarter valued at $31,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 0.2%

PepsiCo stock traded down $0.30 during mid-day trading on Friday, hitting $131.62. 12,988,871 shares of the company's stock were exchanged, compared to its average volume of 6,558,307. The company's 50 day simple moving average is $137.98 and its 200-day simple moving average is $147.27. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $180.46 billion, a P/E ratio of 18.94, a PEG ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91.

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

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.32%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo's payout ratio is 83.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PEP shares. 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 report on Monday, April 21st. Barclays lowered their price objective on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. HSBC cut their target price on PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. Bank of America dropped their price objective on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Evercore ISI set a $140.00 target price on shares of PepsiCo in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has an average rating of "Hold" and a consensus target price of $160.69.

PepsiCo 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.