Asset Dedication LLC Reduces Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Asset Dedication LLC trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 20.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,425 shares of the company's stock after selling 2,390 shares during the quarter. Asset Dedication LLC's holdings in PepsiCo were worth $1,413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. WealthTrak Capital Management LLC bought a new position in PepsiCo during the fourth quarter worth about $28,000. Elite Financial Inc. purchased a new stake in shares of PepsiCo during the 1st quarter valued at approximately $28,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the 4th quarter worth approximately $30,000. Measured Risk Portfolios Inc. purchased a new position in PepsiCo in the 4th quarter valued at approximately $31,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at $33,000. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on PEP shares. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday. UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. 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 report on Friday, April 25th. Bank of America cut their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Barclays lowered their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, PepsiCo currently has an average rating of "Hold" and an average target price of $158.19.

PepsiCo Trading Down 0.6%

PEP stock traded down $0.82 during trading on Friday, hitting $135.26. 7,958,581 shares of the company traded hands, compared to its average volume of 7,078,854. The company has a 50-day moving average of $131.49 and a 200-day moving average of $141.58. 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 1 year low of $127.60 and a 1 year high of $180.91. The firm has a market capitalization of $185.45 billion, a PE ratio of 19.89, a P/E/G ratio of 4.23 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business posted $1.61 EPS. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. Analysts predict 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. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. 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 4.21%. The ex-dividend date of this dividend was Friday, June 6th. PepsiCo's dividend payout ratio is currently 83.68%.

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.