PepsiCo, Inc. (NASDAQ:PEP) Position Boosted by Courier Capital LLC

Courier Capital LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,764 shares of the company’s stock after purchasing an additional 684 shares during the period. Courier Capital LLC’s holdings in PepsiCo were worth $7,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. Tallon Kerry Patrick purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $224,000. Brighton Jones LLC lifted its position in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $9,268,000. Silver Oak Securities Incorporated lifted its position in shares of PepsiCo by 28.5% in the fourth quarter. Silver Oak Securities Incorporated now owns 3,160 shares of the company’s stock worth $479,000 after purchasing an additional 700 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in PepsiCo during the fourth quarter valued at approximately $162,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Barclays cut their price objective on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued 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 an average price target of $160.69.

PepsiCo Stock Down 0.8%

PEP opened at $130.03 on Monday. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm’s fifty day moving average price is $136.15 and its two-hundred day moving average price is $146.06. The company has a market capitalization of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted 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 analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued 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 dividend on an annualized basis and a dividend yield of 4.38%. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

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.