Hurley Capital LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Hurley Capital LLC drastically reduced its stake in PepsiCo, Inc. by 96.4%, ending the quarter with just 278 shares valued at $42,000 after selling 7,511 shares.
• JPMorgan Chase & Co. lowered its target price for PepsiCo from $150.00 to $139.00, while UBS Group set a new target of $169.00, resulting in mixed ratings from analysts.
• PepsiCo recently announced a quarterly dividend of $1.4225 per share, with a current dividend yield of 4.02%, representing a payout ratio of 103.64%.

Hurley Capital LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 96.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 278 shares of the company's stock after selling 7,511 shares during the period. Hurley Capital LLC's holdings in PepsiCo were worth $42,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in shares of PepsiCo by 3.6% during the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after purchasing an additional 21,859 shares in the last quarter. Ignite Planners LLC boosted its position in PepsiCo by 4.2% during the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after acquiring an additional 151 shares during the last quarter. Ossiam boosted its position in PepsiCo by 138.9% during the fourth quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after acquiring an additional 42,793 shares during the last quarter. Graybill Wealth Management LTD. acquired a new position in PepsiCo during the first quarter worth about $3,633,000. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after acquiring an additional 13,461 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.2%

Shares of NASDAQ:PEP traded up $1.71 during trading hours on Friday, reaching $139.63. The stock had a trading volume of 3,891,498 shares, compared to its average volume of 8,568,739. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The firm's 50 day moving average is $134.43 and its 200-day moving average is $140.93. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The stock has a market capitalization of $191.17 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 3.81 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating 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 prior year, the firm posted $2.28 EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. PepsiCo's dividend payout ratio is presently 103.64%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEP. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. Morgan Stanley boosted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Barclays boosted their target price on shares of PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $158.73.

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.