PepsiCo, Inc. (NASDAQ:PEP) is Peregrine Asset Advisers Inc.’s 2nd Largest Position

Peregrine Asset Advisers Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 26.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,894 shares of the company’s stock after selling 13,962 shares during the quarter. PepsiCo accounts for approximately 3.1% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 2nd biggest position. Peregrine Asset Advisers Inc.’s holdings in PepsiCo were worth $6,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. LFA Lugano Financial Advisors SA raised its position in shares of PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after acquiring an additional 70 shares in the last quarter. Life Planning Partners Inc acquired a new position in PepsiCo during the fourth quarter worth approximately $34,000. Naples Money Management LLC acquired a new position in PepsiCo during the fourth quarter worth approximately $36,000. Criterion Capital Advisors LLC acquired a new position in PepsiCo during the fourth quarter worth approximately $39,000. Finally, Avion Wealth increased its position in PepsiCo by 61.7% during the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP traded down $0.33 on Monday, reaching $175.82. The stock had a trading volume of 3,576,177 shares, compared to its average volume of 5,716,585. The firm has a 50-day moving average of $170.30 and a 200 day moving average of $168.57. The firm has a market capitalization of $241.72 billion, a PE ratio of 26.44, a PEG ratio of 2.87 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $196.88. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter last year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.08%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is presently 76.09%.

Analyst Ratings Changes

Several analysts have commented on PEP shares. JPMorgan Chase & Co. upped their price objective on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wedbush restated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Finally, Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $195.00 in a report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and a consensus target price of $187.42.

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.