DAVENPORT & Co LLC Buys 46,515 Shares of PepsiCo, Inc. (NASDAQ:PEP)

DAVENPORT & Co LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,494 shares of the company's stock after acquiring an additional 46,515 shares during the period. DAVENPORT & Co LLC's holdings in PepsiCo were worth $89,962,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PEP. Vanguard Group Inc. raised its stake in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after buying an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. Norges Bank purchased a new position in PepsiCo in the fourth quarter worth $2,729,565,000. Finally, Northern Trust Corp increased its stake in PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.9%

Shares of PEP traded up $1.22 during trading hours on Wednesday, reaching $136.48. 9,386,258 shares of the company traded hands, compared to its average volume of 7,030,760. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. 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's fifty day moving average price is $131.47 and its two-hundred day moving average price is $142.58. The company has a market capitalization of $187.12 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 4.13 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEP. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. Barclays lowered their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Citigroup reduced their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average 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.