Choreo LLC Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Choreo LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,356 shares of the company's stock after selling 5,369 shares during the quarter. Choreo LLC's holdings in PepsiCo were worth $12,949,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in PepsiCo in the 4th quarter valued at $2,729,565,000. GAMMA Investing LLC grew its stake in shares of PepsiCo by 19,106.5% during the first 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. grew its stake in shares of PepsiCo by 106.1% during the first 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 acquired a new stake in shares of PepsiCo during the fourth quarter valued at about $221,297,000. Finally, Northern Trust Corp lifted its position in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock worth $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on PEP. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Wells Fargo & Company lifted their target price on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Bank of America reduced their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $158.73.

PepsiCo Stock Performance

NASDAQ PEP traded up $3.38 during trading on Tuesday, hitting $145.08. 1,834,747 shares of the company's stock traded hands, compared to its average volume of 7,227,273. The business has a 50 day moving average of $132.23 and a 200-day moving average of $141.04. The stock has a market capitalization of $198.62 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 4.38 and a beta of 0.45. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.28 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. The ex-dividend date of this dividend was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 3.92%. PepsiCo's payout ratio is currently 103.64%.

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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