Curbstone Financial Management Corp lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 27,072 shares of the company’s stock after selling 700 shares during the period. Curbstone Financial Management Corp’s holdings in PepsiCo were worth $3,829,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the company. Confluence Investment Management LLC raised its stake in PepsiCo by 1.0% during the 1st quarter. Confluence Investment Management LLC now owns 1,155,730 shares of the company’s stock worth $163,478,000 after acquiring an additional 11,692 shares during the period. Stillwater Investment Management LLC raised its stake in PepsiCo by 0.7% during the 1st quarter. Stillwater Investment Management LLC now owns 18,106 shares of the company’s stock worth $2,561,000 after acquiring an additional 127 shares during the period. Chemung Canal Trust Co. raised its stake in PepsiCo by 3.2% during the 1st quarter. Chemung Canal Trust Co. now owns 78,438 shares of the company’s stock worth $11,095,000 after acquiring an additional 2,436 shares during the period. Private Asset Management Inc. raised its stake in PepsiCo by 2.2% during the 1st quarter. Private Asset Management Inc. now owns 51,342 shares of the company’s stock worth $7,262,000 after acquiring an additional 1,088 shares during the period. Finally, Chickasaw Capital Management LLC raised its stake in PepsiCo by 5.4% during the 1st quarter. Chickasaw Capital Management LLC now owns 4,330 shares of the company’s stock worth $612,000 after acquiring an additional 220 shares during the period. Hedge funds and other institutional investors own 69.94% of the company’s stock.
PEP has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of PepsiCo from $143.00 to $148.00 and gave the company a “hold” rating in a report on Wednesday, February 3rd. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Friday, February 12th. Barclays raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price objective for the company in a report on Monday, March 29th. Guggenheim reaffirmed a “buy” rating on shares of PepsiCo in a report on Thursday, April 1st. Finally, Sanford C. Bernstein began coverage on shares of PepsiCo in a report on Tuesday, January 19th. They set an “underperform” rating and a $136.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $147.40.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, February 11th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.45 by $0.02. The company had revenue of $22.46 billion during the quarter, compared to analyst estimates of $22 billion. PepsiCo had a net margin of 10.27% and a return on equity of 56.28%. Sell-side analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were paid a dividend of $1.0225 per share. This represents a $4.09 annualized dividend and a yield of 2.85%. The ex-dividend date was Thursday, March 4th. PepsiCo’s payout ratio is 73.96%.
PepsiCo, Inc operates as a food and beverage company 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.
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