MainStreet Investment Advisors LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,839 shares of the company's stock after selling 3,288 shares during the period. PepsiCo comprises approximately 1.7% of MainStreet Investment Advisors LLC's holdings, making the stock its 16th largest position. MainStreet Investment Advisors LLC's holdings in PepsiCo were worth $11,371,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. TAGStone Capital Inc. grew its position in PepsiCo by 2.8% in the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after purchasing an additional 70 shares during the period. Lokken Investment Group LLC grew its position in PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after purchasing an additional 70 shares during the period. Legacy Financial Group LLC grew its position in PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after purchasing an additional 71 shares during the period. Atlantic Private Wealth LLC grew its position in PepsiCo by 37.5% in the 4th quarter. Atlantic Private Wealth LLC now owns 275 shares of the company's stock worth $42,000 after purchasing an additional 75 shares during the period. Finally, Pflug Koory LLC grew its position in PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after purchasing an additional 76 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo Price Performance
PEP stock traded down $1.27 during mid-day trading on Friday, hitting $134.81. The company had a trading volume of 5,023,936 shares, compared to its average volume of 7,078,829. The company has a market capitalization of $184.83 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 4.21 and a beta of 0.45. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The company has a 50-day moving average price of $131.46 and a 200 day moving average price of $141.78.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.22%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is presently 83.68%.
Analyst Ratings Changes
PEP has been the subject of a number of research analyst reports. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley cut their target price on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. UBS Group cut 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. Bank of America cut their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $158.19.
Read Our Latest Stock Analysis 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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