Canton Hathaway LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 59.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,061 shares of the company's stock after selling 5,896 shares during the period. Canton Hathaway LLC's holdings in PepsiCo were worth $609,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at about $28,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo during the 4th quarter valued at about $30,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $31,000. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $33,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $38,000. Institutional investors own 73.07% of the company's stock.
PepsiCo Stock Performance
NASDAQ PEP opened at $129.07 on Friday. The company has a market capitalization of $176.97 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 3.71 and a beta of 0.45. The stock's 50-day simple moving average is $133.19 and its two-hundred day simple moving average is $144.06. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The firm's quarterly revenue was down 1.8% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's payout ratio is currently 83.68%.
Analysts Set New Price Targets
A number of brokerages recently commented on PEP. Barclays decreased their price target on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Bank of America cut their price target on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a report on Friday, April 25th. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. UBS Group cut their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. One research 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $160.69.
View Our Latest Analysis on PepsiCo
PepsiCo Company Profile
(
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.
See Also
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