Adams Asset Advisors LLC Acquires 7,522 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Adams Asset Advisors LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 28.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,244 shares of the company's stock after purchasing an additional 7,522 shares during the period. Adams Asset Advisors LLC's holdings in PepsiCo were worth $5,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth about $28,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the 4th quarter worth about $30,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $31,000. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the fourth quarter worth approximately $33,000. Finally, GKV Capital Management Co. Inc. bought a new position in PepsiCo in the 4th quarter worth approximately $38,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEP. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Morgan Stanley decreased their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. increased 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. Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. Finally, Citigroup cut their target price on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $160.69.

PepsiCo Price Performance

Shares of PEP traded down $0.22 during mid-day trading on Thursday, reaching $129.07. The company had a trading volume of 8,782,676 shares, compared to its average volume of 6,735,400. The company's 50 day simple moving average is $133.80 and its 200 day simple moving average is $144.52. The company has a market capitalization of $176.97 billion, a price-to-earnings ratio of 18.98, 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. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 earnings per share. Analysts expect 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. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.41%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is presently 83.68%.

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.