Amalgamated Bank Buys 6,386 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Amalgamated Bank raised its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,925 shares of the company's stock after purchasing an additional 6,386 shares during the period. Amalgamated Bank's holdings in PepsiCo were worth $43,171,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in shares of PepsiCo during the fourth quarter worth approximately $2,729,565,000. GAMMA Investing LLC increased its position in PepsiCo by 19,106.5% during the 1st 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 period. Raymond James Financial Inc. acquired a new stake in shares of PepsiCo during the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the period. Finally, Assenagon Asset Management S.A. increased its position 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 acquiring an additional 1,809,391 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Trading Up 2.4%

NASDAQ:PEP traded up $3.22 on Tuesday, reaching $135.26. 12,843,472 shares of the stock traded hands, compared to its average volume of 7,021,334. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The company's 50 day moving average is $131.64 and its 200-day moving average is $142.63. The firm has a market capitalization of $185.45 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 4.13 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). The firm 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 company's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.21%. PepsiCo's dividend payout ratio is presently 83.68%.

Analyst Ratings Changes

PEP has been the subject of a number of recent research reports. Barclays cut their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and cut their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Citigroup decreased 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. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $159.75.

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.