Bank of New York Mellon Corp Has $2.11 Billion Position in PepsiCo, Inc. (NASDAQ:PEP)

Bank of New York Mellon Corp boosted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,062,857 shares of the company's stock after buying an additional 49,699 shares during the period. Bank of New York Mellon Corp owned 1.03% of PepsiCo worth $2,108,585,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PEP. Norges Bank acquired a new stake in shares of PepsiCo in the fourth quarter valued at $2,729,565,000. GAMMA Investing LLC raised its position in PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after acquiring an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after acquiring an additional 1,809,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PepsiCo during the 4th quarter valued at about $221,297,000. Finally, Vanguard Group Inc. raised its holdings in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Bank of America decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Morgan Stanley decreased their target price on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. Jefferies Financial Group lowered PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, UBS Group reduced their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $159.75.

PepsiCo Stock Down 0.7%

Shares of PepsiCo stock traded down $0.91 on Friday, hitting $135.58. 4,941,378 shares of the company traded hands, compared to its average volume of 7,059,939. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month 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 company has a market cap of $185.88 billion, a PE ratio of 19.94, a PEG ratio of 4.23 and a beta of 0.45. The company has a 50-day moving average price of $131.40 and a 200 day moving average price of $142.26.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its 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 net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter last year, the firm earned $1.61 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.20%. PepsiCo's dividend payout ratio is 83.68%.

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.