Meridian Management Co. Sells 152 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Meridian Management Co. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,031 shares of the company’s stock after selling 152 shares during the period. Meridian Management Co.’s holdings in PepsiCo were worth $341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of PepsiCo in the fourth quarter valued at $2,686,139,000. International Assets Investment Management LLC boosted its stake in PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after buying an additional 3,026,611 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in PepsiCo during the third quarter worth $329,179,000. Flossbach Von Storch AG boosted its stake in PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after buying an additional 1,495,586 shares during the period. Finally, California Public Employees Retirement System boosted its stake in PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after buying an additional 1,470,064 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PEP shares. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group boosted their target price on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has an average rating of “Moderate Buy” and a consensus target price of $187.58.

Check Out Our Latest Research Report on PEP

PepsiCo Stock Performance

Shares of PepsiCo stock traded up $0.18 during midday trading on Thursday, hitting $171.33. The company had a trading volume of 813,230 shares, compared to its average volume of 5,427,506. The stock has a market cap of $235.54 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.83 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company has a fifty day simple moving average of $174.72 and a 200 day simple moving average of $170.32. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38.

PepsiCo (NASDAQ:PEPGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the prior year, the company earned $1.50 EPS. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, analysts predict that PepsiCo, Inc. will post 8.17 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.16%. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

Insider Transactions at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

PepsiCo Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEPFree Report).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.