International Assets Investment Management LLC decreased its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 19.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,898 shares of the company’s stock after selling 7,062 shares during the quarter. International Assets Investment Management LLC’s holdings in PepsiCo were worth $1,822,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PepsiCo by 34.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock worth $188,812,000 after purchasing an additional 286,169 shares in the last quarter. AMI Investment Management Inc. boosted its stake in PepsiCo by 0.7% during the first quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock valued at $2,783,000 after buying an additional 113 shares during the last quarter. Mather Group LLC. boosted its stake in PepsiCo by 29.3% during the first quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock valued at $931,000 after buying an additional 1,262 shares during the last quarter. Wsfs Capital Management LLC boosted its stake in PepsiCo by 117.2% during the first quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock valued at $501,000 after buying an additional 1,616 shares during the last quarter. Finally, Equitable Holdings Inc. boosted its stake in PepsiCo by 8.5% during the first quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock valued at $4,504,000 after buying an additional 2,116 shares during the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.
Analyst Ratings Changes
PEP has been the subject of a number of research reports. UBS Group increased their price target on PepsiCo from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Barclays increased their price target on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Wells Fargo & Company increased their price target on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Sanford C. Bernstein raised PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Finally, StockNews.com began coverage on PepsiCo in a research note on Thursday, May 18th. They issued a “buy” rating for the company. One equities research 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $190.25.
PepsiCo Stock Up 0.7 %
PepsiCo (NASDAQ:PEP – Free Report) 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 company 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%. PepsiCo’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 7.29 earnings per share for the current year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 2nd were issued a $1.265 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.73%. PepsiCo’s dividend payout ratio (DPR) is currently 106.53%.
About PepsiCo
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.
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