Dividend Assets Capital LLC Sells 1,710 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Dividend Assets Capital LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 17.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,055 shares of the company’s stock after selling 1,710 shares during the period. Dividend Assets Capital LLC’s holdings in PepsiCo were worth $1,208,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after acquiring an additional 1,376,133 shares during the period. Geode Capital Management LLC raised its holdings in PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after purchasing an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% in 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. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter valued at $2,729,565,000. Finally, Northern Trust Corp increased its position in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock worth $2,494,300,000 after buying an additional 1,306,818 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America lowered their target price on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. 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 report on Friday, April 25th. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $160.69.

PepsiCo Trading Down 0.1%

PepsiCo stock opened at $129.96 on Tuesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The stock has a market cap of $178.19 billion, a P/E ratio of 18.70, a PEG ratio of 3.09 and a beta of 0.45. The firm’s fifty day moving average price is $135.76 and its 200-day moving average price is $145.84.

PepsiCo (NASDAQ:PEP) last announced its earnings results 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 business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.61 earnings per share. Equities 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 given 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 yield of 4.38%. PepsiCo’s payout ratio is presently 83.68%.

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.