Concord Asset Management LLC VA Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Concord Asset Management LLC VA lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 49.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,864 shares of the company's stock after selling 6,660 shares during the period. Concord Asset Management LLC VA's holdings in PepsiCo were worth $977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEP. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $2,729,565,000. GAMMA Investing LLC lifted its holdings in shares of PepsiCo by 19,106.5% in the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after purchasing an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $221,297,000. Finally, Vanguard Group Inc. lifted its holdings in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $135.57 on Tuesday. The stock has a market cap of $185.88 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. The business has a fifty day simple moving average of $131.56 and a 200-day simple moving average of $141.38. 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 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 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 business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the business earned $1.61 EPS. The business's quarterly revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced 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 represents a $5.69 dividend on an annualized basis and a yield of 4.20%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

Analyst Ratings Changes

Several analysts have weighed in on PEP shares. Barclays cut their target price on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. Finally, Morgan Stanley lowered their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report 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 given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $158.19.

PepsiCo 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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