Cardinal Capital Management Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cardinal Capital Management lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,196 shares of the company’s stock after purchasing an additional 523 shares during the quarter. Cardinal Capital Management’s holdings in PepsiCo were worth $4,827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after purchasing an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Norges Bank purchased a new position in shares of PepsiCo in the 4th quarter valued at approximately $2,729,565,000. Finally, Northern Trust Corp raised its position in shares of PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays decreased their price objective on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $163.00 price target on shares of PepsiCo in a research report on Tuesday, April 22nd. Finally, Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. 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, the company presently has an average rating of “Hold” and an average target price of $160.69.

PepsiCo Price Performance

NASDAQ:PEP opened at $131.41 on Tuesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm has a market cap of $180.17 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. The company has a 50 day moving average price of $134.45 and a 200-day moving average price of $144.73. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.61 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS 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 paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.33%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is currently 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.