QRG Capital Management Inc. Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

QRG Capital Management Inc. reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 166,036 shares of the company's stock after selling 2,684 shares during the period. QRG Capital Management Inc.'s holdings in PepsiCo were worth $24,895,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Ossiam boosted its stake in shares of PepsiCo by 138.9% in 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 last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of PepsiCo by 12.1% in 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 last quarter. Hutner Capital Management Inc. boosted its stake in shares of PepsiCo by 14.6% in the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock worth $8,178,000 after buying an additional 6,865 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of PepsiCo in the 4th quarter worth approximately $47,899,000. Finally, Inspire Trust Co. N.A. boosted its stake in shares of PepsiCo by 39.2% in the 4th quarter. Inspire Trust Co. N.A. now owns 17,125 shares of the company's stock worth $2,604,000 after buying an additional 4,825 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.22 during trading on Thursday, hitting $129.07. The stock had a trading volume of 8,782,676 shares, compared to its average volume of 6,735,400. The firm has a market cap of $176.97 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The business's 50-day moving average is $133.80 and its 200 day moving average is $144.52. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its 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 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter last year, the firm posted $1.61 earnings per share. The firm's revenue was down 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.41%. PepsiCo's payout ratio is 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of research analyst reports. Evercore ISI set a $140.00 target price on PepsiCo in a research note on Thursday, April 24th. Citigroup lowered their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, April 25th. UBS Group lowered their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, PepsiCo has an average rating of "Hold" and a consensus target price 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.