Pinnacle Financial Group LLC IL Trims Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Pinnacle Financial Group LLC IL decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,912 shares of the company’s stock after selling 131 shares during the period. Pinnacle Financial Group LLC IL’s holdings in PepsiCo were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Norges Bank purchased a new position in PepsiCo in the 4th quarter worth $2,729,565,000. Raymond James Financial Inc. purchased a new position in shares of PepsiCo during the 4th quarter valued at about $589,307,000. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after buying an additional 1,376,133 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of PepsiCo by 360.0% during the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock valued at $258,158,000 after buying an additional 1,328,672 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.3%

PEP stock opened at $130.15 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $127.87 and a 12-month high of $182.13. The stock has a market cap of $178.45 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 3.09 and a beta of 0.47. The business’s 50-day moving average is $140.35 and its 200 day moving average is $148.94.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.37%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Barclays reduced their price objective on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $160.69.

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.