Olstein Capital Management L.P. Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

Olstein Capital Management L.P. purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,000 shares of the company's stock, valued at approximately $3,149,000.

Several other large investors have also bought and sold shares of the business. Tcfg Wealth Management LLC increased its stake in shares of PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock valued at $295,000 after acquiring an additional 66 shares during the last quarter. TAGStone Capital Inc. grew its holdings in PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock valued at $388,000 after purchasing an additional 70 shares during the period. Lokken Investment Group LLC raised its holdings in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after purchasing an additional 70 shares during the period. Leavell Investment Management Inc. boosted its position in shares of PepsiCo by 0.3% during the fourth quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company's stock worth $4,271,000 after purchasing an additional 71 shares in the last quarter. Finally, Legacy Financial Group LLC grew its holdings in shares of PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after buying an additional 71 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.8%

NASDAQ:PEP opened at $130.03 on Monday. The firm has a market capitalization of $178.28 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The stock's 50 day moving average price is $136.15 and its two-hundred day moving average price is $146.06.

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 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the company posted $1.61 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

Analyst Upgrades and Downgrades

PEP has been the topic of several recent analyst reports. Barclays cut their price objective on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Citigroup reduced their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. UBS Group reduced their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $163.00 target price on shares of PepsiCo in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $160.69.

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.

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