Bruce G. Allen Investments LLC Has $161,000 Stake in PepsiCo, Inc. (NASDAQ:PEP)

Bruce G. Allen Investments LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.2% in the first quarter, Holdings Channel.com reports. The firm owned 1,071 shares of the company’s stock after selling 83 shares during the period. Bruce G. Allen Investments LLC’s holdings in PepsiCo were worth $161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Tcfg Wealth Management LLC boosted its position in PepsiCo by 3.5% during the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after acquiring an additional 66 shares during the period. TAGStone Capital Inc. boosted its holdings in shares of PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares during the period. Lokken Investment Group LLC grew its position in PepsiCo by 0.9% during the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock valued at $1,171,000 after purchasing an additional 70 shares in the last quarter. Leavell Investment Management Inc. increased its stake in PepsiCo by 0.3% in the 4th quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company’s stock valued at $4,271,000 after buying an additional 71 shares during the period. Finally, Legacy Financial Group LLC lifted its position in PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research reports. Bank of America dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Barclays cut their price target on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Evercore ISI set a $140.00 price target on PepsiCo in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Finally, Dbs Bank cut shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $160.69.

PepsiCo Stock Performance

NASDAQ:PEP opened at $130.03 on Monday. The firm has a market capitalization of $178.28 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The firm has a 50-day moving average price of $136.15 and a 200 day moving average price of $146.06.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid 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 payout ratio is currently 83.68%.

PepsiCo 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.