Broderick Brian C Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Broderick Brian C trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 18.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,717 shares of the company's stock after selling 3,521 shares during the period. Broderick Brian C's holdings in PepsiCo were worth $2,357,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of PepsiCo during the fourth quarter valued at approximately $2,729,565,000. GAMMA Investing LLC raised its position in PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after purchasing an additional 4,564,723 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in PepsiCo in the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in PepsiCo by 106.1% during 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 in the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

PEP opened at $129.29 on Wednesday. The company's 50-day simple moving average is $134.13 and its two-hundred day simple moving average is $144.63. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The stock has a market capitalization of $177.27 billion, a P/E ratio of 19.01, a P/E/G ratio of 3.77 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 10.24% and a return on equity of 58.28%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. As a group, analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.40%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is presently 83.68%.

Analysts Set New Price Targets

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

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