Viking Fund Management LLC Has $16.64 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Viking Fund Management LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 68.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,000 shares of the company's stock after purchasing an additional 45,000 shares during the quarter. PepsiCo accounts for 2.4% of Viking Fund Management LLC's portfolio, making the stock its 7th largest holding. Viking Fund Management LLC's holdings in PepsiCo were worth $16,643,000 as of its most recent SEC filing.

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

PepsiCo Stock Down 0.1%

Shares of NASDAQ:PEP traded down $0.11 during midday trading on Wednesday, reaching $131.74. 6,514,304 shares of the company were exchanged, compared to its average volume of 6,569,377. The firm has a market cap of $180.63 billion, a PE ratio of 18.96, a P/E/G ratio of 3.09 and a beta of 0.47. 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 fifty-two week low of $127.75 and a fifty-two week high of $180.91. The stock has a fifty day simple moving average of $137.27 and a two-hundred day simple moving average of $146.72.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter last year, the firm earned $1.61 earnings per share. The business's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This is a boost 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 is 83.68%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Morgan Stanley decreased their price objective on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. Bank of America lowered their price objective on PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Finally, BNP Paribas cut their target price on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $160.69.

PepsiCo 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.