Pinnacle Associates Ltd. Buys 2,492 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pinnacle Associates Ltd. raised its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 138,676 shares of the company's stock after buying an additional 2,492 shares during the period. Pinnacle Associates Ltd.'s holdings in PepsiCo were worth $20,793,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Asset Management One Co. Ltd. boosted its position in shares of PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after purchasing an additional 21,859 shares during the last quarter. Ignite Planners LLC raised its stake in PepsiCo by 4.2% during the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after buying an additional 151 shares during the period. Ossiam raised its stake in PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after buying an additional 42,793 shares during the period. Graybill Wealth Management LTD. acquired a new stake in PepsiCo during the 1st quarter worth $3,633,000. Finally, OMERS ADMINISTRATION Corp raised its stake in PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after buying an additional 13,461 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on PEP shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Citigroup lifted their price target on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday, June 24th. Finally, Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Stock Performance

PepsiCo stock traded down $1.06 during midday trading on Friday, reaching $143.45. 6,596,497 shares of the company's stock were exchanged, compared to its average volume of 10,334,833. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The firm has a market cap of $196.39 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 3.82 and a beta of 0.45. The stock's 50-day simple moving average is $133.58 and its 200 day simple moving average is $140.99.

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

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio is presently 103.64%.

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.