Marino Stram & Associates LLC Has $2.40 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Marino Stram & Associates LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.8% in the first quarter, HoldingsChannel reports. The fund owned 16,034 shares of the company’s stock after selling 1,177 shares during the quarter. Marino Stram & Associates LLC’s holdings in PepsiCo were worth $2,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new stake in PepsiCo during the 4th quarter valued at $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo during the fourth quarter valued at about $30,000. Prudent Man Investment Management Inc. bought a new stake in shares of PepsiCo during the fourth quarter worth about $30,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo during the fourth quarter worth about $31,000. Finally, Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the 4th quarter worth about $33,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.6%

NASDAQ:PEP opened at $129.29 on Wednesday. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The firm’s 50 day moving average is $134.13 and its 200 day moving average is $144.63. The stock has a market capitalization of $177.27 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 3.77 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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). The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current 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 given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

Analysts Set New Price Targets

A number of brokerages have commented on PEP. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. Evercore ISI set a $140.00 price target on PepsiCo in a research report on Thursday, April 24th. Citigroup dropped their price objective on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Finally, 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 report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.