PepsiCo, Inc. (NASDAQ:PEP) Stock Position Lessened by Fred Alger Management LLC

Fred Alger Management LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 79.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,512 shares of the company's stock after selling 39,919 shares during the quarter. Fred Alger Management LLC's holdings in PepsiCo were worth $1,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Collier Financial bought a new stake in PepsiCo in the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC bought a new position in PepsiCo in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo in the fourth quarter worth about $30,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo during the fourth quarter worth approximately $30,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo in the fourth quarter valued at about $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.0%

PEP stock traded up $1.24 during trading on Monday, reaching $131.68. The stock had a trading volume of 8,388,258 shares, compared to its average volume of 6,297,504. 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 one year low of $129.93 and a one year high of $183.41. The company's 50 day moving average is $143.73 and its two-hundred day moving average is $150.74. The company has a market capitalization of $180.54 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its 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 during 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 last year, the business earned $1.61 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio is currently 83.68%.

Analysts Set New Price Targets

Several research analysts recently commented on PEP shares. CICC Research reissued a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. Barclays decreased their price target 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. Royal Bank of Canada restated a "sector perform" rating and set a $163.00 price target on shares of PepsiCo in a report on Tuesday, April 22nd. StockNews.com cut shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Citigroup decreased their price objective 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, PepsiCo presently has a consensus rating of "Hold" and an average price target 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.