Calamos Advisors LLC Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Calamos Advisors LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 24.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,820 shares of the company's stock after acquiring an additional 49,087 shares during the period. Calamos Advisors LLC's holdings in PepsiCo were worth $37,008,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new position in PepsiCo in the 4th quarter worth about $28,000. Prudent Man Investment Management Inc. bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $30,000. Measured Risk Portfolios Inc. bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $31,000. Summit Securities Group LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $33,000. Finally, GKV Capital Management Co. Inc. bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $38,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PEP shares. Bank of America dropped their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. 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. Finally, UBS Group lowered 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, PepsiCo has an average rating of "Hold" and a consensus target price of $159.75.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded down $0.91 during midday trading on Friday, reaching $135.58. The company had a trading volume of 4,941,378 shares, compared to its average volume of 7,048,532. The business's 50-day simple moving average is $131.36 and its 200 day simple moving average is $142.40. The stock has a market cap of $185.88 billion, a P/E ratio of 19.94, a P/E/G ratio of 4.23 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.

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

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were issued a $1.4225 dividend. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.20%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

PepsiCo Company 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.