CORDA Investment Management LLC. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

CORDA Investment Management LLC. boosted its stake 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 SEC. The firm owned 273,805 shares of the company's stock after buying an additional 4,210 shares during the period. PepsiCo makes up approximately 3.3% of CORDA Investment Management LLC.'s holdings, making the stock its 8th biggest holding. CORDA Investment Management LLC.'s holdings in PepsiCo were worth $41,054,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in PepsiCo during the fourth quarter worth $2,729,565,000. GAMMA Investing LLC increased its holdings in PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after buying an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in PepsiCo by 106.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after buying an additional 1,809,391 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in PepsiCo during the fourth quarter worth $221,297,000. Finally, Vanguard Group Inc. increased its holdings in PepsiCo by 1.0% during the fourth 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 during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the subject of a number of research analyst reports. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Citigroup reduced 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. UBS Group reduced their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Barclays reduced their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Bank of America reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $159.75.

PepsiCo Price Performance

PEP traded up $1.86 on Thursday, hitting $136.34. 3,210,705 shares of the stock were exchanged, compared to its average volume of 7,065,709. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. The business has a 50-day moving average of $131.41 and a two-hundred day moving average of $141.88. 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 has a market capitalization of $186.93 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.22 and a beta of 0.45.

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

PepsiCo Increases Dividend

The business 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. The ex-dividend date was Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.17%. PepsiCo's dividend 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.