BluePointe Capital Management LLC Acquires Shares of 1,769 PepsiCo, Inc. (NASDAQ:PEP)

BluePointe Capital Management LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,769 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in PepsiCo by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC lifted its position in PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after acquiring an additional 582,254 shares in the last quarter. Norges Bank bought a new stake in PepsiCo in the 4th quarter valued at $2,729,565,000. Northern Trust Corp lifted its position in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in PepsiCo by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company’s stock valued at $2,108,585,000 after acquiring an additional 49,699 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 0.2%

Shares of NASDAQ PEP opened at $135.57 on Tuesday. The firm has a market cap of $185.88 billion, a PE ratio of 19.94, a P/E/G ratio of 4.23 and a beta of 0.45. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The company’s fifty day simple moving average is $131.56 and its 200 day simple moving average is $141.38. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.

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 the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast 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 was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were issued a $1.4225 dividend. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.20%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is currently 83.68%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group cut their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Bank of America cut their price objective on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday. Dbs Bank lowered shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Morgan Stanley lowered their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research note on Friday, April 25th. Finally, Evercore ISI set a $140.00 price target on shares of PepsiCo in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.19.

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.