PepsiCo, Inc. (NASDAQ:PEP) Stock Position Lifted by Summit X LLC

Summit X LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 92.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,814 shares of the company's stock after purchasing an additional 3,744 shares during the quarter. Summit X LLC's holdings in PepsiCo were worth $1,171,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. WealthTrak Capital Management LLC purchased a new stake in PepsiCo during the 4th quarter worth $28,000. Elite Financial Inc. acquired a new position in PepsiCo during the 1st quarter worth $28,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo during the 4th quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo during the 4th quarter worth $31,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo during the 4th quarter worth $33,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $10.09 during midday trading on Thursday, reaching $145.44. The company's stock had a trading volume of 26,198,192 shares, compared to its average volume of 7,203,932. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The company has a 50 day moving average price of $131.69 and a 200 day moving average price of $141.29. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The company has a market cap of $199.41 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 4.18 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the previous year, the firm earned $2.28 EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.91%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is currently 83.68%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. UBS Group decreased their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report on Friday, April 25th. Citigroup decreased their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a report on Tuesday, June 24th. Finally, Bank of America decreased their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $158.00.

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.