Fiera Capital Corp Sells 264,736 Shares of PepsiCo, Inc. $PEP

Key Points

• Fiera Capital Corp reduced its PepsiCo stake by 8.8% in the fourth quarter, selling 264,736 shares and leaving it with 2,741,056 shares valued at about $393.4 million.
• PepsiCo reported stronger-than-expected quarterly results, posting $1.61 EPS on $19.44 billion in revenue, with revenue up 8.5% year over year.
• The company also raised its quarterly dividend to $1.48 per share from $1.42, implying a 4.2% yield on an annualized basis.

Fiera Capital Corp trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,741,056 shares of the company's stock after selling 264,736 shares during the quarter. PepsiCo accounts for approximately 1.2% of Fiera Capital Corp's portfolio, making the stock its 24th largest holding. Fiera Capital Corp owned about 0.20% of PepsiCo worth $393,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PEP. CNB Bank boosted its holdings in shares of PepsiCo by 3.8% in the 4th quarter. CNB Bank now owns 11,117 shares of the company's stock worth $1,596,000 after buying an additional 410 shares during the last quarter. Bcwm LLC lifted its holdings in shares of PepsiCo by 1.2% in the fourth quarter. Bcwm LLC now owns 37,736 shares of the company's stock worth $5,416,000 after buying an additional 446 shares in the last quarter. Syon Capital LLC lifted its holdings in shares of PepsiCo by 15.5% in the fourth quarter. Syon Capital LLC now owns 10,904 shares of the company's stock worth $1,565,000 after buying an additional 1,461 shares in the last quarter. Capital World Investors purchased a new stake in shares of PepsiCo in the fourth quarter worth about $51,730,000. Finally, Tacita Capital Inc increased its position in shares of PepsiCo by 7.4% in the fourth quarter. Tacita Capital Inc now owns 2,420 shares of the company's stock worth $347,000 after purchasing an additional 167 shares during 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 $141.92 on Monday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The business has a fifty day moving average price of $152.21 and a 200-day moving average price of $152.54. The company has a market capitalization of $193.97 billion, a PE ratio of 22.28, a PEG ratio of 2.57 and a beta of 0.35.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. During the same period last year, the company earned $1.48 EPS. PepsiCo's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, June 5th. This is an increase from PepsiCo's previous quarterly dividend of $1.42. PepsiCo's payout ratio is presently 92.94%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PEP shares. HSBC increased their price target on shares of PepsiCo from $175.00 to $176.00 and gave the company a "hold" rating in a research report on Friday, April 17th. Evercore increased their price target on shares of PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of PepsiCo in a research report on Wednesday, April 8th. Royal Bank Of Canada reduced their price target on shares of PepsiCo from $165.00 to $163.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 9th. Finally, The Goldman Sachs Group raised their target price on shares of PepsiCo from $180.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $169.58.

PepsiCo Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.