Requisite Capital Management LLC Sells 4,189 Shares of PepsiCo, Inc. $PEP

Requisite Capital Management LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 55.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,391 shares of the company’s stock after selling 4,189 shares during the quarter. Requisite Capital Management LLC’s holdings in PepsiCo were worth $492,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sapient Capital LLC raised its holdings in PepsiCo by 3.2% in the fourth quarter. Sapient Capital LLC now owns 15,285 shares of the company’s stock worth $2,227,000 after purchasing an additional 473 shares in the last quarter. North Dakota State Investment Board acquired a new position in shares of PepsiCo during the fourth quarter valued at about $6,745,000. Elyxium Wealth LLC increased its holdings in shares of PepsiCo by 1.4% during the fourth quarter. Elyxium Wealth LLC now owns 5,897 shares of the company’s stock valued at $846,000 after acquiring an additional 81 shares in the last quarter. Rossmore Private Capital increased its holdings in shares of PepsiCo by 15.5% during the fourth quarter. Rossmore Private Capital now owns 34,711 shares of the company’s stock valued at $5,031,000 after acquiring an additional 4,665 shares in the last quarter. Finally, United Bank increased its holdings in shares of PepsiCo by 3.9% during the fourth quarter. United Bank now owns 1,717 shares of the company’s stock valued at $246,000 after acquiring an additional 65 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $149.12 on Monday. The business’s 50 day moving average price is $155.25 and its 200 day moving average price is $152.41. The firm has a market cap of $203.81 billion, a P/E ratio of 23.41, a P/E/G ratio of 2.73 and a beta of 0.38. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.PepsiCo’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $1.48 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 4.0%. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is currently 89.32%.

PepsiCo declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 17th. Barclays upped their price objective on shares of PepsiCo from $154.00 to $158.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. UBS Group cut their price objective on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $170.37.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.