PVG Asset Management Corp Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

PVG Asset Management Corp bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,082 shares of the company's stock, valued at approximately $317,000. PepsiCo makes up 1.5% of PVG Asset Management Corp's portfolio, making the stock its 29th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after buying an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after buying an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after buying an additional 3,856,193 shares in the last quarter. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth $2,729,565,000. Finally, Northern Trust Corp raised its stake in shares of PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock worth $2,494,300,000 after buying an additional 1,306,818 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 0.5%

Shares of NASDAQ PEP traded down $0.70 during midday trading on Wednesday, hitting $130.67. The stock had a trading volume of 8,059,565 shares, compared to its average volume of 6,509,874. The company's 50-day simple moving average is $138.84 and its 200 day simple moving average is $147.83. The firm has a market cap of $179.16 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly 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 58.87% and a net margin of 10.43%. The company 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 earned $1.61 earnings per share. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. Barclays cut their target price on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. CICC Research reaffirmed a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. Citigroup cut their target price on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. HSBC cut their target price on PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company cut their target price on PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $160.69.

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.