one8zero8 LLC Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• one8zero8 LLC reduced its stake in PepsiCo, Inc. by 34.7% in Q1, now holding 32,620 shares valued at approximately $4.89 million.
• PepsiCo reported Q2 earnings per share of $2.12, exceeding estimates, with a revenue of $22.73 billion, up 1% year-over-year.
• The company declared a quarterly dividend of $1.4225, yielding around 3.97%, with a payout ratio of 103.64%.

one8zero8 LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 34.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,620 shares of the company's stock after selling 17,370 shares during the quarter. PepsiCo accounts for about 1.2% of one8zero8 LLC's investment portfolio, making the stock its 16th largest holding. one8zero8 LLC's holdings in PepsiCo were worth $4,891,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $28,000. Elite Financial Inc. purchased a new position in PepsiCo in the 1st quarter worth approximately $28,000. Prudent Man Investment Management Inc. acquired a new stake in PepsiCo in the fourth quarter valued at approximately $30,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo during the fourth quarter valued at approximately $31,000. Finally, Summit Securities Group LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $143.45 on Friday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The firm has a market cap of $196.39 billion, a P/E ratio of 26.13, a PEG ratio of 3.82 and a beta of 0.45. The stock has a fifty day moving average price of $133.58 and a two-hundred day moving average price of $140.99. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. PepsiCo's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.28 EPS. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.97%. PepsiCo's dividend payout ratio is currently 103.64%.

Analysts Set New Price Targets

Several research firms have issued reports on PEP. Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. Cowen restated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Royal Bank Of Canada reissued a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a report on Tuesday, June 24th. Finally, UBS Group cut their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. 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. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $158.73.

About PepsiCo

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.