Conning Inc. Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

Conning Inc. lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 233,656 shares of the company's stock after selling 4,725 shares during the quarter. Conning Inc.'s holdings in PepsiCo were worth $35,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. TAGStone Capital Inc. boosted its holdings in shares of PepsiCo by 2.8% in the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after buying an additional 70 shares during the last quarter. Lokken Investment Group LLC raised its position in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after acquiring an additional 70 shares during the period. Legacy Financial Group LLC boosted its stake in shares of PepsiCo by 4.9% during the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after acquiring an additional 71 shares during the last quarter. Atlantic Private Wealth LLC grew its position in shares of PepsiCo by 37.5% during the 4th quarter. Atlantic Private Wealth LLC now owns 275 shares of the company's stock valued at $42,000 after acquiring an additional 75 shares during the period. Finally, Pflug Koory LLC increased its stake in shares of PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after purchasing an additional 76 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $135.58 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The firm has a market cap of $185.88 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 4.27 and a beta of 0.45. The firm has a fifty day moving average price of $131.36 and a 200 day moving average price of $142.40. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week 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 net margin of 10.24% and a return on equity of 58.28%. The company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the company earned $1.61 EPS. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. This is an increase from PepsiCo's previous quarterly dividend of $1.36. 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%. PepsiCo's payout ratio is presently 83.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Morgan Stanley lowered their target price 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. UBS Group cut their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Citigroup decreased their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and an average price target of $159.75.

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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