Meritage Portfolio Management Has $998,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Meritage Portfolio Management trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 6,656 shares of the company’s stock after selling 282 shares during the quarter. Meritage Portfolio Management’s holdings in PepsiCo were worth $998,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Resonant Capital Advisors LLC lifted its holdings in shares of PepsiCo by 1.8% during the 1st quarter. Resonant Capital Advisors LLC now owns 21,457 shares of the company’s stock worth $3,217,000 after acquiring an additional 370 shares during the period. Teacher Retirement System of Texas lifted its stake in PepsiCo by 12.4% during the first quarter. Teacher Retirement System of Texas now owns 589,097 shares of the company’s stock worth $88,329,000 after purchasing an additional 64,858 shares during the last quarter. Latitude Advisors LLC boosted its holdings in shares of PepsiCo by 35.2% in the 1st quarter. Latitude Advisors LLC now owns 3,127 shares of the company’s stock valued at $469,000 after purchasing an additional 814 shares in the last quarter. Revisor Wealth Management LLC increased its stake in shares of PepsiCo by 136.9% in the 1st quarter. Revisor Wealth Management LLC now owns 3,238 shares of the company’s stock valued at $486,000 after purchasing an additional 1,871 shares during the last quarter. Finally, Novem Group raised its holdings in shares of PepsiCo by 5.1% during the 1st quarter. Novem Group now owns 22,527 shares of the company’s stock worth $3,378,000 after buying an additional 1,086 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on PEP shares. Barclays decreased their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Bank of America cut their target price on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Evercore ISI set a $140.00 price target on shares of PepsiCo in a report on Thursday, April 24th. Finally, Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and cut their price objective for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $159.75.

PepsiCo Stock Performance

Shares of PEP stock opened at $135.58 on Friday. The stock has a market capitalization of $185.88 billion, a PE ratio of 19.94, a PEG ratio of 4.27 and a beta of 0.45. The business’s 50 day simple moving average is $131.36 and its 200 day simple moving average is $142.40. 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, Inc. has a one year low of $127.60 and a one year high of $180.91.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a $1.4225 dividend. The ex-dividend date was Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.20%. PepsiCo’s dividend payout ratio (DPR) is 83.68%.

About PepsiCo

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.