Callahan Advisors LLC Buys 21,061 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Callahan Advisors LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 19.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 126,941 shares of the company's stock after acquiring an additional 21,061 shares during the period. PepsiCo accounts for about 1.8% of Callahan Advisors LLC's holdings, making the stock its 13th biggest position. Callahan Advisors LLC's holdings in PepsiCo were worth $19,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of PepsiCo in the fourth quarter valued at $2,729,565,000. GAMMA Investing LLC lifted its position in PepsiCo by 19,106.5% in the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after acquiring an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. lifted its position 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PepsiCo in the fourth quarter valued at approximately $221,297,000. Finally, Vanguard Group Inc. lifted its holdings in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Trading Up 1.2%

NASDAQ:PEP opened at $136.08 on Friday. The stock has a market capitalization of $186.58 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 4.21 and a beta of 0.45. The firm's 50 day moving average is $131.46 and its 200 day moving average is $141.78. 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, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results 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). 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 the consensus estimate of $17.81 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. Sell-side analysts expect 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 given a $1.4225 dividend. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.18%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup dropped their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Bank of America dropped their target price 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. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo has an average rating of "Hold" and a consensus price target of $158.50.

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.

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