Verity & Verity LLC Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Verity & Verity LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 137.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,828 shares of the company's stock after purchasing an additional 88,416 shares during the period. PepsiCo makes up about 2.0% of Verity & Verity LLC's holdings, making the stock its 15th biggest position. Verity & Verity LLC's holdings in PepsiCo were worth $22,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $30,000. Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $31,000. Finally, Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Trading Down 1.1%

Shares of PepsiCo stock traded down $1.45 during trading hours on Friday, reaching $130.85. 9,578,363 shares of the company's stock were exchanged, compared to its average volume of 6,677,016. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The firm has a market capitalization of $179.41 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. The company has a fifty day moving average of $134.63 and a 200-day moving average of $145.08. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 EPS. Sell-side analysts forecast 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. Investors 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 83.68%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada restated a "sector perform" rating and issued a $163.00 price target on shares of PepsiCo in a report on Tuesday, April 22nd. Morgan Stanley lowered their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Barclays lowered their price target on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. Finally, UBS Group lowered their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average 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.