Cypress Capital Group Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Cypress Capital Group reduced its holdings in PepsiCo by 61.8% during the first quarter, ending up with 9,878 shares worth approximately $1.48 million.
• Analysts have varying forecasts for PepsiCo's stock, with Morgan Stanley raising its price target to $165, while the consensus rating remains a "Hold" with an average target price of $158.73.
• PepsiCo has declared a quarterly dividend of $1.4225 per share, representing a 3.9% yield, with a payout ratio currently at 103.64%.

Cypress Capital Group lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 61.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,878 shares of the company's stock after selling 16,010 shares during the period. Cypress Capital Group's holdings in PepsiCo were worth $1,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEP. Elite Financial Inc. purchased a new stake in PepsiCo during the first quarter valued at approximately $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo in the fourth quarter worth $31,000. GKV Capital Management Co. Inc. acquired a new stake in shares of PepsiCo in the fourth quarter worth $38,000. Bridge Generations Wealth Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter worth $38,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PEP shares. Morgan Stanley increased their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. UBS Group dropped their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Citigroup increased their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Cowen reaffirmed a "hold" rating on shares of PepsiCo in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $158.73.

PepsiCo Price Performance

Shares of PEP stock opened at $145.21 on Monday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The firm's 50-day moving average is $135.71 and its two-hundred day moving average is $140.60. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73. The company has a market capitalization of $198.80 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 3.87 and a beta of 0.45.

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

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo's dividend payout ratio (DPR) 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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