Chapin Davis Inc. Acquires 3,469 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Chapin Davis Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 30.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,894 shares of the company's stock after purchasing an additional 3,469 shares during the quarter. PepsiCo accounts for about 0.8% of Chapin Davis Inc.'s portfolio, making the stock its 28th largest position. Chapin Davis Inc.'s holdings in PepsiCo were worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $28,000. Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo in the 4th quarter worth about $30,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo during the fourth quarter valued at about $31,000. Summit Securities Group LLC purchased a new stake in PepsiCo during the fourth quarter valued at about $33,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in PepsiCo during the fourth quarter valued at about $38,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $129.07 on Monday. 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, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The stock has a market capitalization of $176.97 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45. The company's 50 day moving average price is $133.19 and its 200-day moving average price is $143.83.

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). The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.61 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.41%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PEP shares. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Barclays lowered 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. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. raised their target price on shares of PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. One equities 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.