Perpetual Ltd Sells 3,486 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Perpetual Ltd decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,877 shares of the company’s stock after selling 3,486 shares during the period. Perpetual Ltd’s holdings in PepsiCo were worth $1,781,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PEP. WealthTrak Capital Management LLC purchased a new stake in PepsiCo in the fourth quarter worth about $28,000. Prudent Man Investment Management Inc. purchased a new stake in PepsiCo in the fourth quarter worth about $30,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo in the fourth quarter worth about $31,000. Summit Securities Group LLC purchased a new stake in PepsiCo in the fourth quarter worth about $33,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in PepsiCo in the fourth quarter worth about $38,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEP shares. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Barclays cut their price objective on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Citigroup dropped their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $148.00 target price on shares of PepsiCo in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $159.75.

PepsiCo Stock Up 2.2%

Shares of PepsiCo stock opened at $131.04 on Friday. The company has a market cap of $179.67 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 3.68 and a beta of 0.45. The company’s 50 day moving average is $131.83 and its 200 day moving average is $143.02. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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). The company had revenue of $17.92 billion for 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 revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS 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 issued a dividend of $1.4225 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Friday, June 6th. PepsiCo’s dividend payout ratio is currently 83.68%.

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.