Patton Albertson Miller Group LLC Decreases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Patton Albertson Miller Group LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 2.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 16,181 shares of the company’s stock after selling 462 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in PepsiCo were worth $2,426,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its position in shares of PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company’s stock valued at $94,598,000 after purchasing an additional 21,859 shares in the last quarter. Ossiam grew its position in shares of PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company’s stock valued at $11,192,000 after purchasing an additional 42,793 shares in the last quarter. Graybill Wealth Management LTD. purchased a new position in shares of PepsiCo in the first quarter valued at $3,633,000. OMERS ADMINISTRATION Corp grew its position in shares of PepsiCo by 12.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock valued at $18,977,000 after purchasing an additional 13,461 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of PepsiCo by 2.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company’s stock valued at $40,624,000 after purchasing an additional 6,112 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $145.44 on Friday. The firm has a market capitalization of $199.41 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45. The company’s fifty day moving average price is $131.97 and its 200-day moving average price is $141.24. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid a $1.4225 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 3.91%. PepsiCo’s dividend payout ratio is 83.68%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, July 10th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. Barclays decreased their price objective on PepsiCo from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Tuesday. Cowen reissued a “hold” rating on shares of PepsiCo in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of PepsiCo in a report on Thursday. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.75.

View Our Latest Analysis on PEP

PepsiCo Profile

(Free Report)

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.

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