Canoe Financial LP reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 106,440 shares of the company's stock after selling 7,800 shares during the quarter. Canoe Financial LP's holdings in PepsiCo were worth $15,960,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo during the fourth quarter worth $28,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo during the fourth quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo during the fourth quarter worth $31,000. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the fourth quarter worth $33,000. Finally, GKV Capital Management Co. Inc. acquired a new stake in shares of PepsiCo during the fourth quarter worth $38,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on PEP shares. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group cut their target price 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. Barclays cut their target price on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. 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 note on Friday, April 25th. Finally, Bank of America cut their target price 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. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, PepsiCo currently has a consensus rating of "Hold" and a consensus price target of $160.69.
Get Our Latest Analysis on PEP
PepsiCo Price Performance
PepsiCo stock opened at $129.07 on Friday. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The firm has a market capitalization of $176.97 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45. The firm's fifty day moving average price is $133.19 and its two-hundred day moving average price is $144.06. 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 announced its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.41%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is currently 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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