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

MQS Management LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 300.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,750 shares of the company's stock after buying an additional 4,313 shares during the period. PepsiCo makes up 0.5% of MQS Management LLC's investment portfolio, making the stock its 26th largest holding. MQS Management LLC's holdings in PepsiCo were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PEP. WealthTrak Capital Management LLC acquired a new stake in PepsiCo during the 4th quarter worth $28,000. Elite Financial Inc. acquired a new stake in shares of PepsiCo in the 1st quarter worth $28,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth $31,000. Finally, Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEP. Citigroup reduced their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday. Barclays reduced their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research note on Monday, April 28th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. Finally, Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and a consensus price target of $158.19.

PepsiCo Price Performance

NASDAQ:PEP traded up $0.31 during mid-day trading on Monday, hitting $135.57. 8,477,672 shares of the company's stock traded hands, compared to its average volume of 7,084,459. The company has a market cap 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, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The firm's 50 day simple moving average is $131.49 and its 200 day simple moving average is $141.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued 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). The firm had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.61 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.20%. PepsiCo's payout ratio is 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.