Hennessy Advisors Inc. Has $8.28 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Hennessy Advisors Inc. lifted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 85.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,200 shares of the company's stock after purchasing an additional 25,500 shares during the quarter. Hennessy Advisors Inc.'s holdings in PepsiCo were worth $8,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PEP. WealthTrak Capital Management LLC purchased a new position in PepsiCo in the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC purchased a new stake in shares of PepsiCo during the 4th quarter worth $30,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PepsiCo during the 4th quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo during the 4th quarter worth $31,000. Finally, Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Jefferies Financial Group cut PepsiCo from a "buy" rating to a "hold" rating and lowered their price target for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $163.00 price target on shares of PepsiCo in a report on Tuesday, April 22nd. Morgan Stanley decreased their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Stock Down 1.1%

Shares of NASDAQ:PEP traded down $1.45 during mid-day trading on Friday, reaching $130.85. 9,578,363 shares of the stock were exchanged, compared to its average volume of 6,677,016. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a market cap of $179.41 billion, a P/E ratio of 18.83, a P/E/G ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91. The stock's 50 day simple moving average is $134.63 and its 200-day simple moving average is $145.08.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 58.87% and a net margin of 10.43%. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 earnings per share. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.35%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

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.