Coerente Capital Management Acquires 620 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Coerente Capital Management lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,266 shares of the company’s stock after purchasing an additional 620 shares during the quarter. PepsiCo accounts for 3.9% of Coerente Capital Management’s investment portfolio, making the stock its 13th largest holding. Coerente Capital Management’s holdings in PepsiCo were worth $19,982,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PEP. Ossiam raised its position in PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company’s stock valued at $11,192,000 after buying an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock valued at $18,977,000 after purchasing an additional 13,461 shares during the last quarter. Hutner Capital Management Inc. grew its stake in shares of PepsiCo by 14.6% during the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock worth $8,178,000 after acquiring an additional 6,865 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of PepsiCo during the 4th quarter worth $47,899,000. Finally, Inspire Trust Co. N.A. grew its stake in shares of PepsiCo by 39.2% during the 4th quarter. Inspire Trust Co. N.A. now owns 17,125 shares of the company’s stock worth $2,604,000 after acquiring an additional 4,825 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Down 1.5%

NASDAQ PEP opened at $129.90 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock’s 50 day moving average is $135.04 and its 200 day moving average is $145.63. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The firm has a market capitalization of $178.10 billion, a PE ratio of 18.69, a P/E/G ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, April 24th. The company reported $1.48 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 company had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period last year, the firm posted $1.61 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. Research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.38%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s payout ratio is 83.68%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PEP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. Citigroup cut their target price on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Morgan Stanley cut their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Evercore ISI set a $140.00 target price on PepsiCo in a research note on Thursday, April 24th. Finally, UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. One 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.