2,718 Shares in PepsiCo, Inc. (NASDAQ:PEP) Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC bought a new position in PepsiCo, Inc. (NASDAQ:PEP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,718 shares of the company’s stock, valued at approximately $408,000.

Other hedge funds have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new position in PepsiCo in the fourth quarter valued at approximately $30,000. Prudent Man Investment Management Inc. acquired a new stake in PepsiCo during the 4th quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the 4th quarter valued at $31,000. Finally, Summit Securities Group LLC bought a new position in shares of PepsiCo in the 4th quarter worth $33,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $129.90 on Thursday. The stock has a market capitalization of $178.10 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The firm has a fifty day simple moving average of $135.04 and a 200 day simple moving average of $145.63. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned $1.61 EPS. PepsiCo’s revenue was down 1.8% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is presently 83.68%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Bank of America reduced their price target 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. Citigroup lowered their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their target price on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $160.69.

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.