DT Investment Partners LLC Sells 2,059 Shares of PepsiCo, Inc. (NASDAQ:PEP)

DT Investment Partners LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 53.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,790 shares of the company's stock after selling 2,059 shares during the period. DT Investment Partners LLC's holdings in PepsiCo were worth $268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Norges Bank purchased a new stake in shares of PepsiCo in the 4th quarter worth $2,729,565,000. GAMMA Investing LLC increased its stake 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 in the last quarter. Assenagon Asset Management S.A. increased its stake 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of PepsiCo in the 4th quarter worth $221,297,000. Finally, Vanguard Group Inc. increased its stake 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 in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.7%

Shares of NASDAQ:PEP traded down $0.91 during trading on Friday, reaching $135.58. The company's stock had a trading volume of 4,941,378 shares, compared to its average volume of 7,059,939. The company has a current ratio of 0.83, a quick ratio of 0.65 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. The firm's 50 day simple moving average is $131.40 and its two-hundred day simple moving average is $142.11. The stock has a market capitalization 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.

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

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were issued 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 dividend yield of 4.20%. PepsiCo's dividend payout ratio (DPR) is presently 83.68%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Barclays cut their price target on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. increased their price target on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday, June 24th. One investment 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $159.75.

About PepsiCo

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.