Core Alternative Capital Sells 8,192 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Core Alternative Capital cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,915 shares of the company's stock after selling 8,192 shares during the quarter. Core Alternative Capital's holdings in PepsiCo were worth $5,385,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PEP. Asset Management One Co. Ltd. grew its position in PepsiCo by 3.6% during the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after buying an additional 21,859 shares in the last quarter. Ossiam grew its holdings in shares of PepsiCo by 138.9% during the fourth quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after purchasing an additional 42,793 shares in the last quarter. OMERS ADMINISTRATION Corp grew its stake in PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after buying an additional 13,461 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in PepsiCo by 2.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company's stock worth $40,624,000 after buying an additional 6,112 shares in the last quarter. Finally, Hutner Capital Management Inc. grew its stake in PepsiCo by 14.6% in the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock worth $8,178,000 after buying an additional 6,865 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 0.7%

Shares of NASDAQ:PEP traded down $0.93 during trading on Monday, hitting $134.45. The stock had a trading volume of 7,771,754 shares, compared to its average volume of 7,062,791. The firm's fifty day moving average is $131.40 and its 200 day moving average is $142.11. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $184.34 billion, a PE ratio of 19.77, a PEG ratio of 4.23 and a beta of 0.45. 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 quarterly 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 business 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 was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is 83.68%.

Analyst Ratings Changes

A number of research firms have recently issued reports on PEP. Jefferies Financial Group cut PepsiCo from a "buy" rating to a "hold" rating and cut their price objective for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. UBS Group cut their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Barclays cut their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.