Alta Capital Management LLC Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Alta Capital Management LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,092 shares of the company's stock after acquiring an additional 2,575 shares during the quarter. Alta Capital Management LLC's holdings in PepsiCo were worth $3,313,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. OLD Second National Bank of Aurora increased its position in shares of PepsiCo by 3.2% during the first quarter. OLD Second National Bank of Aurora now owns 28,166 shares of the company's stock worth $4,223,000 after acquiring an additional 867 shares during the period. LongView Wealth Management grew its stake in PepsiCo by 3.6% in the first quarter. LongView Wealth Management now owns 4,616 shares of the company's stock worth $692,000 after purchasing an additional 160 shares in the last quarter. River Street Advisors LLC increased its holdings in PepsiCo by 14.8% during the 1st quarter. River Street Advisors LLC now owns 11,637 shares of the company's stock worth $1,745,000 after purchasing an additional 1,503 shares during the period. Retirement Systems of Alabama raised its position in PepsiCo by 38.1% during the 1st quarter. Retirement Systems of Alabama now owns 410,133 shares of the company's stock valued at $61,495,000 after purchasing an additional 113,083 shares in the last quarter. Finally, Means Investment CO. Inc. grew its position in shares of PepsiCo by 10.3% during the 1st quarter. Means Investment CO. Inc. now owns 12,040 shares of the company's stock worth $1,805,000 after buying an additional 1,129 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their price objective for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Barclays cut their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Bank of America dropped their target price on PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Finally, UBS Group reduced their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $160.69.

PepsiCo Stock Down 0.2%

PEP stock opened at $129.07 on Friday. The stock has a market capitalization of $176.97 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The firm has a 50 day moving average of $133.50 and a 200 day moving average of $144.28.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. The company's quarterly revenue was down 1.8% on a year-over-year basis. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.41%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is presently 83.68%.

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.

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