PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Patron Partners LLC

Patron Partners LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,068 shares of the company’s stock after purchasing an additional 608 shares during the quarter. Patron Partners LLC’s holdings in PepsiCo were worth $1,360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Norges Bank purchased a new stake in shares of PepsiCo in the 4th quarter valued at $2,729,565,000. GAMMA Investing LLC increased its holdings in PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock worth $688,017,000 after purchasing an additional 4,564,723 shares during the period. Raymond James Financial Inc. purchased a new stake in PepsiCo during the 4th quarter worth about $589,307,000. Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 18.1% during 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 purchasing an additional 3,856,193 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock worth $527,034,000 after acquiring an additional 1,809,391 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 2.2%

Shares of PepsiCo stock opened at $131.04 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The firm has a market cap of $179.67 billion, a P/E ratio of 19.27, a P/E/G ratio of 3.68 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The business has a 50-day moving average price of $131.83 and a 200 day moving average price of $143.02.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share 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 firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.61 earnings per share. On average, sell-side 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. Stockholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.34%. PepsiCo’s dividend payout ratio is 83.68%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PEP shares. Morgan Stanley lowered their price objective on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research report on Friday, April 25th. Citigroup decreased their price objective on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $148.00 price objective on shares of PepsiCo in a research note on Tuesday. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, Bank of America lowered their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $159.75.

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.