Cullen Frost Bankers Inc. Has $16.73 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Cullen Frost Bankers Inc. cut its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,557 shares of the company's stock after selling 4,490 shares during the period. Cullen Frost Bankers Inc.'s holdings in PepsiCo were worth $16,727,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after purchasing an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after purchasing an additional 11,538 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of PepsiCo by 22.7% during the fourth quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company's stock worth $677,000 after purchasing an additional 824 shares during the last quarter. Dopkins Wealth Management LLC bought a new position in shares of PepsiCo during the fourth quarter worth about $263,000. Finally, Leelyn Smith LLC lifted its position in shares of PepsiCo by 1.9% during the fourth quarter. Leelyn Smith LLC now owns 16,686 shares of the company's stock worth $2,537,000 after purchasing an additional 318 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 1.1%

Shares of PepsiCo stock traded down $1.53 during midday trading on Friday, reaching $143.91. 4,737,461 shares of the company's stock traded hands, compared to its average volume of 7,193,343. The company has a market cap of $197.31 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. The company's 50 day simple moving average is $131.97 and its 200 day simple moving average is $141.24. 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, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last released 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 business had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. PepsiCo's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.28 EPS. Equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is 83.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PEP shares. Bank of America reduced their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Citigroup dropped their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday. Wells Fargo & Company restated an "equal weight" rating on shares of PepsiCo in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $158.75.

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.