Palisade Asset Management LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,760 shares of the company's stock after buying an additional 2,999 shares during the quarter. PepsiCo accounts for 1.6% of Palisade Asset Management LLC's portfolio, making the stock its 21st biggest holding. Palisade Asset Management LLC's holdings in PepsiCo were worth $15,258,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at $28,000. Prudent Man Investment Management Inc. bought a new stake in PepsiCo in the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. bought a new position in shares of PepsiCo during the 4th quarter worth about $31,000. Summit Securities Group LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at about $33,000. Finally, GKV Capital Management Co. Inc. acquired a new position in PepsiCo in the fourth quarter worth about $38,000. 73.07% of the stock is currently owned by institutional investors.
PepsiCo Price Performance
PepsiCo stock opened at $129.09 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The firm has a market capitalization of $176.99 billion, a P/E ratio of 18.98, a PEG ratio of 3.71 and a beta of 0.46. The business has a 50-day moving average of $132.83 and a 200-day moving average of $143.63. 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 issued its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the company posted $1.61 EPS. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.41%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is presently 83.68%.
Analyst Ratings Changes
A number of brokerages have weighed in on PEP. Bank of America lowered their price target on PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Citigroup lowered their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their target price for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, UBS Group decreased their price target 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 given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $160.69.
Check Out Our Latest Stock Report on PEP
PepsiCo Company Profile
(
Free Report)
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.
See Also
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