Principal Street Partners LLC Has $5.03 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Principal Street Partners LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,059 shares of the company’s stock after selling 2,245 shares during the period. Principal Street Partners LLC’s holdings in PepsiCo were worth $5,027,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Collier Financial acquired a new position in shares of PepsiCo during the fourth quarter worth about $28,000. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $30,000. Prudent Man Investment Management Inc. bought a new stake in PepsiCo during the fourth quarter worth $30,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PEP. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Morgan Stanley lowered their price objective on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $163.00 target price on shares of PepsiCo in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $160.69.

PepsiCo Stock Performance

NASDAQ:PEP opened at $131.79 on Tuesday. The stock’s 50-day moving average is $141.05 and its 200-day moving average is $149.19. PepsiCo, Inc. has a 1-year low of $127.87 and a 1-year high of $182.13. 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 market cap of $180.69 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 earnings per share. Equities research analysts anticipate 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 given a dividend of $1.4225 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

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.