PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Perkins Coie Trust Co

Perkins Coie Trust Co lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,642 shares of the company’s stock after acquiring an additional 104 shares during the period. PepsiCo accounts for 1.1% of Perkins Coie Trust Co’s holdings, making the stock its 28th largest position. Perkins Coie Trust Co’s holdings in PepsiCo were worth $4,894,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PEP. Collier Financial purchased a new position in PepsiCo during the fourth quarter worth approximately $28,000. WealthTrak Capital Management LLC purchased a new position in PepsiCo during the fourth quarter worth approximately $28,000. Creative Capital Management Investments LLC purchased a new position in PepsiCo during the fourth quarter worth approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo during the fourth quarter worth approximately $30,000. Finally, Measured Risk Portfolios Inc. purchased a new position in PepsiCo during the fourth quarter worth approximately $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. UBS Group reduced their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $160.69.

PepsiCo Trading Down 0.8%

Shares of NASDAQ PEP opened at $130.03 on Friday. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The stock has a fifty day simple moving average of $136.15 and a 200-day simple moving average of $146.16. The stock has a market capitalization of $178.28 billion, a PE ratio of 18.71, a PEG ratio of 3.09 and a beta of 0.45.

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

PepsiCo Increases Dividend

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

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.