Constitution Capital LLC Has $7.90 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Constitution Capital LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,708 shares of the company’s stock after selling 1,079 shares during the period. PepsiCo comprises 4.4% of Constitution Capital LLC’s portfolio, making the stock its 7th biggest holding. Constitution Capital LLC’s holdings in PepsiCo were worth $7,903,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ossiam lifted its stake in PepsiCo by 138.9% during the fourth quarter. Ossiam now owns 73,604 shares of the company’s stock worth $11,192,000 after purchasing an additional 42,793 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock worth $18,977,000 after purchasing an additional 13,461 shares during the period. Hutner Capital Management Inc. lifted its stake in PepsiCo by 14.6% during the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock worth $8,178,000 after purchasing an additional 6,865 shares during the period. Polar Asset Management Partners Inc. bought a new position in PepsiCo during the fourth quarter worth about $47,899,000. Finally, WCM Investment Management LLC lifted its stake in PepsiCo by 147.6% during the fourth quarter. WCM Investment Management LLC now owns 14,692 shares of the company’s stock worth $2,229,000 after purchasing an additional 8,759 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $130.03 on Friday. The firm has a 50 day simple moving average of $136.15 and a 200 day simple moving average of $146.25. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The firm has a market cap of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last released its earnings results 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 return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the prior year, the firm posted $1.61 EPS. PepsiCo’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is currently 83.68%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PEP shares. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Morgan Stanley dropped their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a report on Friday, April 25th. UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $160.69.

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.