Baxter Bros Inc. Sells 2,121 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Baxter Bros Inc. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,019 shares of the company's stock after selling 2,121 shares during the quarter. Baxter Bros Inc.'s holdings in PepsiCo were worth $2,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Ossiam increased its stake in PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after buying an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp raised its position in PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after purchasing an additional 13,461 shares during the period. Hutner Capital Management Inc. boosted its position in PepsiCo by 14.6% during the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock valued at $8,178,000 after buying an additional 6,865 shares during the period. Polar Asset Management Partners Inc. bought a new stake in PepsiCo in the fourth quarter valued at $47,899,000. Finally, WCM Investment Management LLC raised its holdings in PepsiCo by 147.6% in the fourth quarter. WCM Investment Management LLC now owns 14,692 shares of the company's stock worth $2,229,000 after purchasing an additional 8,759 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PEP shares. Evercore ISI set a $140.00 price target on PepsiCo in a research note on Thursday, April 24th. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley cut their target price 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. CICC Research reissued a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. Finally, Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and cut their price objective for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $160.69.

PepsiCo Stock Performance

Shares of PEP traded down $1.08 during trading hours on Friday, reaching $130.03. 7,619,600 shares of the company's stock traded hands, compared to its average volume of 6,594,477. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The business's fifty day simple moving average is $136.15 and its two-hundred day simple moving average is $146.25. The firm has a market capitalization of $178.28 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.47.

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 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 firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the business posted $1.61 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

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