Formidable Asset Management LLC Buys 2,487 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Formidable Asset Management LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,148 shares of the company's stock after buying an additional 2,487 shares during the quarter. Formidable Asset Management LLC's holdings in PepsiCo were worth $3,471,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Willner & Heller LLC boosted its position in PepsiCo by 2.6% in the first quarter. Willner & Heller LLC now owns 3,797 shares of the company's stock valued at $569,000 after buying an additional 97 shares in the last quarter. Pavion Blue Capital LLC lifted its stake in shares of PepsiCo by 1.5% in the 1st quarter. Pavion Blue Capital LLC now owns 41,771 shares of the company's stock valued at $6,263,000 after acquiring an additional 626 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of PepsiCo by 30.3% during the 1st quarter. Diversify Advisory Services LLC now owns 11,099 shares of the company's stock valued at $1,664,000 after acquiring an additional 2,584 shares in the last quarter. Hussman Strategic Advisors Inc. grew its position in PepsiCo by 50.0% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 25,200 shares of the company's stock worth $3,778,000 after acquiring an additional 8,400 shares during the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group increased its holdings in PepsiCo by 6.6% in the 1st quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 7,386 shares of the company's stock worth $1,107,000 after purchasing an additional 458 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent research reports. Barclays decreased their price target on shares of PepsiCo from $135.00 to $132.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. Citigroup upped their price target on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Friday. Cowen restated a "hold" rating on shares of PepsiCo in a research report on Thursday. Finally, Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. One equities research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $157.93.

PepsiCo Stock Performance

PEP traded down $2.20 on Friday, reaching $143.24. 13,738,009 shares of the stock were exchanged, compared to its average volume of 7,239,591. The company's 50-day moving average price is $132.23 and its 200 day moving average price is $141.11. The firm has a market capitalization of $196.39 billion, a PE ratio of 26.09, a PEG ratio of 4.38 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. PepsiCo's dividend payout ratio is 103.64%.

PepsiCo 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.