Viking Fund Management LLC Purchases 45,000 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Viking Fund Management LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 68.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,000 shares of the company’s stock after purchasing an additional 45,000 shares during the quarter. PepsiCo comprises approximately 2.4% of Viking Fund Management LLC’s holdings, making the stock its 7th largest position. Viking Fund Management LLC’s holdings in PepsiCo were worth $16,643,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Collier Financial bought a new position in PepsiCo during the fourth quarter valued at about $28,000. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at $30,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the fourth quarter worth $30,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in PepsiCo during the fourth quarter worth $31,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $130.91 on Tuesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The firm has a market capitalization of $179.49 billion, a PE ratio of 18.84, a P/E/G ratio of 3.09 and a beta of 0.47. The stock has a 50 day simple moving average of $137.62 and a 200 day simple moving average of $146.83. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date 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

PEP has been the topic of a number of research analyst reports. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upped their price target 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. Finally, Wells Fargo & Company lowered their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.