4,711 Shares in PepsiCo, Inc. (NASDAQ:PEP) Acquired by Davis Investment Partners LLC

Davis Investment Partners LLC bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,711 shares of the company’s stock, valued at approximately $691,000.

Several other hedge funds have also added to or reduced their stakes in the business. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $31,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at $33,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEP. Morgan Stanley lowered their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their price target 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. Barclays decreased their price target on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Finally, Evercore ISI set a $140.00 price target on shares of PepsiCo in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $160.69.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $129.90 on Thursday. The company’s 50-day moving average is $135.04 and its 200 day moving average is $145.63. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market capitalization of $178.10 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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 company had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s payout ratio is 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.