Mattern Capital Management LLC Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Mattern Capital Management LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,449 shares of the company's stock after purchasing an additional 2,193 shares during the quarter. Mattern Capital Management LLC's holdings in PepsiCo were worth $8,314,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Riverbend Wealth Management LLC boosted its holdings in PepsiCo by 14.2% in the first quarter. Riverbend Wealth Management LLC now owns 4,074 shares of the company's stock valued at $611,000 after acquiring an additional 508 shares in the last quarter. Golden State Equity Partners boosted its holdings in PepsiCo by 5.9% in the first quarter. Golden State Equity Partners now owns 8,276 shares of the company's stock valued at $1,241,000 after acquiring an additional 462 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in PepsiCo in the first quarter valued at $2,187,000. S.A. Mason LLC boosted its holdings in PepsiCo by 31.8% in the first quarter. S.A. Mason LLC now owns 13,106 shares of the company's stock valued at $1,965,000 after acquiring an additional 3,161 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in PepsiCo in the first quarter valued at $327,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PEP. Jefferies Financial Group lowered PepsiCo from a "buy" rating to a "hold" rating and lowered their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Bank of America lowered their price objective on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Morgan Stanley lowered their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $159.75.

PepsiCo Price Performance

PEP opened at $131.05 on Wednesday. The stock has a 50-day moving average price of $132.60 and a 200-day moving average price of $143.54. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. The firm has a market cap of $179.68 billion, a PE ratio of 19.27, a P/E/G ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.75 and a 1 year high of $180.91.

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

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.34%. 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 presently 83.68%.

PepsiCo 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.

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