Rhumbline Advisers Sells 8,923 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Rhumbline Advisers lowered its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,814,321 shares of the company's stock after selling 8,923 shares during the quarter. Rhumbline Advisers owned 0.21% of PepsiCo worth $421,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Collier Financial acquired a new position in shares of PepsiCo during the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo during the fourth quarter worth about $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo in the 4th quarter valued at approximately $30,000. Prudent Man Investment Management Inc. bought a new position in shares of PepsiCo during the 4th quarter worth approximately $30,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $31,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP traded up $0.94 during midday trading on Tuesday, hitting $131.85. The company's stock had a trading volume of 7,335,944 shares, compared to its average volume of 6,555,716. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91. The stock has a market capitalization of $180.78 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The company's fifty day simple moving average is $137.62 and its two-hundred day simple moving average is $146.83.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its 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 business had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. As a group, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company 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 $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.32%. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PEP shares. Barclays dropped their price target on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a report on Tuesday, April 22nd. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Wall Street Zen downgraded PepsiCo from a "buy" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Morgan Stanley lowered their price target on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $160.69.

About PepsiCo

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.