PepsiCo, Inc. (NASDAQ:PEP) Holdings Lowered by First Affirmative Financial Network

First Affirmative Financial Network trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 32.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,357 shares of the company's stock after selling 2,061 shares during the quarter. First Affirmative Financial Network's holdings in PepsiCo were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after buying an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after buying an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after buying an additional 3,856,193 shares in the last quarter. Norges Bank bought a new stake in shares of PepsiCo during the 4th quarter worth about $2,729,565,000. Finally, Northern Trust Corp raised its holdings in shares of PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock worth $2,494,300,000 after purchasing an additional 1,306,818 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on PEP shares. Royal Bank of Canada reiterated a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a report on Tuesday, April 22nd. 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 report on Wednesday, March 12th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a report on Thursday, April 24th. Barclays dropped their target price on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Finally, CICC Research reiterated a "market perform" rating on shares of PepsiCo in a report on Friday, February 7th. 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's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $160.69.

PepsiCo Stock Performance

PepsiCo stock opened at $130.03 on Friday. The firm's 50 day simple moving average is $136.15 and its 200-day simple moving average is $146.25. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The company has a market cap of $178.28 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The business's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed 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 of this dividend is 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 yield of 4.38%. PepsiCo's payout ratio is presently 83.68%.

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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