Bright Rock Capital Management LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 44.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,000 shares of the company's stock after buying an additional 20,000 shares during the quarter. PepsiCo makes up about 2.1% of Bright Rock Capital Management LLC's investment portfolio, making the stock its 15th largest holding. Bright Rock Capital Management LLC's holdings in PepsiCo were worth $9,746,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in PEP. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo during the 4th quarter worth $30,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the 4th quarter valued at about $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo during the fourth quarter valued at approximately $31,000. Finally, Summit Securities Group LLC acquired a new stake in PepsiCo in the fourth quarter worth approximately $33,000. 73.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
PEP has been the topic of several research reports. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Morgan Stanley decreased their target price on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Citigroup dropped their price target on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. UBS Group dropped their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and a consensus target price of $160.69.
View Our Latest Research Report on PEP
PepsiCo Stock Performance
Shares of NASDAQ:PEP traded down $1.45 during midday trading on Friday, hitting $130.85. The company's stock had a trading volume of 9,578,363 shares, compared to its average volume of 6,668,925. The stock's 50 day simple moving average is $134.82 and its 200 day simple moving average is $145.42. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The stock has a market capitalization of $179.41 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.09 and a beta of 0.45. 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 (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (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 the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business'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 firm posted $1.61 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.35%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is 83.68%.
About PepsiCo
(
Free Report)
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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