Smithbridge Asset Management Inc. DE Takes $3.89 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Smithbridge Asset Management Inc. DE purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 25,961 shares of the company's stock, valued at approximately $3,893,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tcfg Wealth Management LLC grew its position in shares of PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock valued at $295,000 after purchasing an additional 66 shares in the last quarter. TAGStone Capital Inc. boosted its stake in PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after buying an additional 70 shares during the last quarter. Lokken Investment Group LLC grew its holdings in PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock valued at $1,171,000 after buying an additional 70 shares in the last quarter. Legacy Financial Group LLC raised its holdings in shares of PepsiCo by 4.9% during the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after acquiring an additional 71 shares during the period. Finally, Atlantic Private Wealth LLC raised its stake in PepsiCo by 37.5% during the fourth quarter. Atlantic Private Wealth LLC now owns 275 shares of the company's stock worth $42,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 1.1%

Shares of PEP traded down $1.45 during mid-day trading on Friday, reaching $130.85. The company's stock had a trading volume of 9,578,363 shares, compared to its average volume of 6,668,925. The stock has a market cap of $179.41 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.09 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 company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company's 50 day moving average is $134.82 and its 200 day moving average is $145.42.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share 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 for the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The firm's quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $1.4225 dividend. This is an increase 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 is Friday, June 6th. PepsiCo's payout ratio is presently 83.68%.

Analyst Ratings Changes

A number of research firms recently weighed in on PEP. Bank of America lowered their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Citigroup lowered their price target on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group lowered PepsiCo from a "buy" rating to a "hold" rating and decreased their target price for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. increased their target price on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Finally, Dbs Bank lowered PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.