PepsiCo, Inc. $PEP Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 55.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,391 shares of the company’s stock after selling 4,189 shares during the period. Requisite Capital Management LLC’s holdings in PepsiCo were worth $492,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. JCIC Asset Management Inc. acquired a new position in PepsiCo in the 3rd quarter valued at $27,000. MH & Associates Securities Management Corp ADV acquired a new position in PepsiCo in the 4th quarter valued at $29,000. Imprint Wealth LLC acquired a new position in PepsiCo in the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in PepsiCo in the 4th quarter valued at $33,000. Finally, Strategic Advocates LLC acquired a new position in PepsiCo in the 3rd quarter valued at $33,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP opened at $149.12 on Monday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48. The company has a market capitalization of $203.81 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. The stock has a fifty day simple moving average of $155.25 and a two-hundred day simple moving average of $152.41. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. During the same period last year, the company earned $1.48 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio is 89.32%.

PepsiCo announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

PEP has been the subject of several recent research reports. BNP Paribas Exane increased their price objective on PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research note on Wednesday, April 8th. Barclays increased their price objective on PepsiCo from $154.00 to $158.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Evercore raised their target price on PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Finally, UBS Group cut their target price on PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $170.37.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.