Whitener Capital Management Inc. Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Whitener Capital Management Inc. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,521 shares of the company's stock after buying an additional 2,132 shares during the quarter. PepsiCo makes up approximately 2.0% of Whitener Capital Management Inc.'s portfolio, making the stock its 12th largest holding. Whitener Capital Management Inc.'s holdings in PepsiCo were worth $6,975,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of PepsiCo in the fourth quarter valued at approximately $2,729,565,000. GAMMA Investing LLC raised its position in shares of PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after purchasing an additional 4,564,723 shares during the period. Assenagon Asset Management S.A. raised its position in shares of PepsiCo by 106.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after purchasing an additional 1,809,391 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of PepsiCo in the fourth quarter valued at approximately $221,297,000. Finally, Vanguard Group Inc. raised its position in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PEP shares. UBS Group lowered their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Morgan Stanley cut their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada restated a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research report on Tuesday, June 24th. Barclays cut their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. 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 company's stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and a consensus target price of $158.19.

PepsiCo Price Performance

PEP traded down $0.82 on Friday, reaching $135.26. The company had a trading volume of 7,958,581 shares, compared to its average volume of 7,078,854. The business has a 50 day simple moving average of $131.49 and a 200 day simple moving average of $141.58. The company has a market cap of $185.45 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 4.23 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly 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 analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a dividend of $1.4225 per share. The ex-dividend date of this dividend was 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 dividend yield of 4.21%. PepsiCo's dividend payout ratio (DPR) is 83.68%.

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.