PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by CX Institutional

CX Institutional grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 60.9% in the first quarter, Holdings Channel.com reports. The fund owned 70,846 shares of the company’s stock after purchasing an additional 26,812 shares during the period. CX Institutional’s holdings in PepsiCo were worth $10,623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after purchasing an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares during the period. Norges Bank purchased a new stake in PepsiCo in the 4th quarter worth approximately $2,729,565,000. Finally, Northern Trust Corp grew its stake in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock worth $2,494,300,000 after acquiring an additional 1,306,818 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Up 1.4%

Shares of NASDAQ PEP opened at $131.83 on Wednesday. The firm has a fifty day moving average of $135.37 and a 200-day moving average of $145.74. 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 52-week low of $127.75 and a 52-week high of $180.91. The stock has a market capitalization of $180.75 billion, a PE ratio of 18.97, a P/E/G ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced 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). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period last year, the company posted $1.61 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, 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 will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.32%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio is 83.68%.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Citigroup lowered their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Morgan Stanley lowered their target price on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Finally, Bank of America lowered their target price on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $160.69.

PepsiCo Company 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.