Fulton Breakefield Broenniman LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,600 shares of the company's stock after selling 1,938 shares during the period. Fulton Breakefield Broenniman LLC's holdings in PepsiCo were worth $12,835,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of PepsiCo in the fourth quarter worth about $2,729,565,000. GAMMA Investing LLC grew its stake in shares of PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after purchasing an additional 4,564,723 shares during the last quarter. Assenagon Asset Management S.A. increased its position in PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after purchasing an additional 1,809,391 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in PepsiCo during the 4th quarter valued at $221,297,000. Finally, Vanguard Group Inc. increased its position in PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.
PepsiCo Trading Up 0.2%
NASDAQ PEP traded up $0.31 on Monday, hitting $135.57. 8,477,672 shares of the company were exchanged, compared to its average volume of 7,084,459. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $180.91. The company's 50 day moving average price is $131.49 and its 200-day moving average price is $141.50. The firm has a market capitalization of $185.88 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the firm earned $1.61 EPS. PepsiCo's quarterly revenue 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 firm also recently declared 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 of this dividend was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.20%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.
Analyst Ratings Changes
Several analysts have commented on the company. Evercore ISI set a $140.00 target price on PepsiCo in a research note on Thursday, April 24th. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Bank of America lowered their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $158.19.
Read Our Latest Report on PepsiCo
About PepsiCo
(
Free Report)
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.
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