Puzo Michael J Has $1.28 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Puzo Michael J cut its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 23.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,550 shares of the company's stock after selling 2,637 shares during the quarter. Puzo Michael J's holdings in PepsiCo were worth $1,282,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEP. Tallon Kerry Patrick bought a new position in shares of PepsiCo during the 4th quarter worth about $224,000. Brighton Jones LLC increased its stake in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after acquiring an additional 6,574 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $9,268,000. Bank Pictet & Cie Europe AG grew its holdings in shares of PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock worth $71,527,000 after purchasing an additional 11,538 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at $162,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Down 1.6%

Shares of PEP opened at $129.29 on Wednesday. The firm has a market capitalization of $177.27 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 3.77 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The business's fifty day moving average price is $134.13 and its two-hundred day moving average price is $144.63.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The firm had revenue of $17.92 billion during 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%. PepsiCo'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 business earned $1.61 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.40%. PepsiCo's payout ratio is presently 83.68%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Morgan Stanley dropped their target price on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Citigroup decreased their price target on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $160.69.

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.

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.