Contravisory Investment Management Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,460 shares of the company’s stock after selling 303 shares during the quarter. PepsiCo makes up about 1.8% of Contravisory Investment Management Inc.’s holdings, making the stock its 28th largest position. Contravisory Investment Management Inc.’s holdings in PepsiCo were worth $6,282,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Trinity Legacy Partners LLC boosted its holdings in shares of PepsiCo by 0.3% in the first quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock worth $5,701,000 after acquiring an additional 93 shares during the period. Mawer Investment Management Ltd. boosted its stake in PepsiCo by 1.6% in the 4th quarter. Mawer Investment Management Ltd. now owns 448,860 shares of the company’s stock worth $81,091,000 after purchasing an additional 7,122 shares during the period. Suncoast Equity Management grew its holdings in PepsiCo by 15.2% during the 4th quarter. Suncoast Equity Management now owns 8,345 shares of the company’s stock valued at $1,508,000 after buying an additional 1,100 shares in the last quarter. AXS Investments LLC lifted its holdings in shares of PepsiCo by 1.0% in the fourth quarter. AXS Investments LLC now owns 6,203 shares of the company’s stock worth $1,121,000 after buying an additional 62 shares in the last quarter. Finally, Renaissance Investment Group LLC boosted its position in shares of PepsiCo by 1.9% in the fourth quarter. Renaissance Investment Group LLC now owns 48,250 shares of the company’s stock valued at $8,717,000 after acquiring an additional 899 shares during the period. 75.46% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
PEP has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. UBS Group lifted their price objective on PepsiCo from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. StockNews.com initiated coverage on PepsiCo in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Sanford C. Bernstein upgraded PepsiCo from an “underperform” rating to a “market perform” rating in a research report on Monday, March 20th. Finally, Wells Fargo & Company raised their target price on shares of PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $190.25.
PepsiCo Price Performance
PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. The firm had revenue of $17.85 billion for the quarter, compared to the consensus estimate of $17.27 billion. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. Research analysts predict that PepsiCo, Inc. will post 7.3 earnings per share for the current year.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Thursday, June 1st. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s dividend payout ratio (DPR) is 106.53%.
PepsiCo Company Profile
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
Further Reading
- Get a free research report on PepsiCo from StockNews.com
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