CORDA Investment Management LLC. Acquires 4,210 Shares of PepsiCo, Inc. (NASDAQ:PEP)

CORDA Investment Management LLC. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,805 shares of the company's stock after purchasing an additional 4,210 shares during the quarter. PepsiCo makes up approximately 3.3% of CORDA Investment Management LLC.'s holdings, making the stock its 8th largest holding. CORDA Investment Management LLC.'s holdings in PepsiCo were worth $41,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Brighton Jones LLC increased its holdings in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after acquiring an additional 11,538 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of PepsiCo by 22.7% in the 4th quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company's stock valued at $677,000 after acquiring an additional 824 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of PepsiCo by 126.6% in the 4th quarter. AlphaQuest LLC now owns 2,579 shares of the company's stock valued at $392,000 after acquiring an additional 1,441 shares during the last quarter. Finally, Davis R M Inc. increased its holdings in shares of PepsiCo by 12.8% in the 4th quarter. Davis R M Inc. now owns 295,761 shares of the company's stock valued at $44,973,000 after acquiring an additional 33,652 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEP. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday. Jefferies Financial Group lowered PepsiCo from a "buy" rating to a "hold" rating and reduced their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. Finally, Citigroup reduced their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, PepsiCo currently has an average rating of "Hold" and a consensus target price of $158.50.

PepsiCo Price Performance

Shares of PEP traded up $1.60 during midday trading on Thursday, reaching $136.08. The stock had a trading volume of 8,864,567 shares, compared to its average volume of 7,086,428. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. The firm's 50 day moving average price is $131.46 and its 200-day moving average price is $141.78. The company has a market capitalization of $186.58 billion, a P/E ratio of 20.01, a P/E/G ratio of 4.21 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.61 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.18%. PepsiCo's payout ratio is 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.