Coastal Bridge Advisors LLC Has $3.41 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Coastal Bridge Advisors LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,454 shares of the company’s stock after purchasing an additional 300 shares during the period. PepsiCo comprises about 0.9% of Coastal Bridge Advisors LLC’s holdings, making the stock its 28th largest holding. Coastal Bridge Advisors LLC’s holdings in PepsiCo were worth $3,414,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Deutsche Bank AG raised its stake in PepsiCo by 1.3% during the 4th quarter. Deutsche Bank AG now owns 8,130,277 shares of the company’s stock worth $1,236,290,000 after buying an additional 103,271 shares during the period. Diligent Investors LLC grew its position in PepsiCo by 19.6% in the fourth quarter. Diligent Investors LLC now owns 7,462 shares of the company’s stock valued at $1,135,000 after purchasing an additional 1,225 shares in the last quarter. Eagle Global Advisors LLC increased its position in shares of PepsiCo by 60.6% in the fourth quarter. Eagle Global Advisors LLC now owns 50,835 shares of the company’s stock valued at $7,730,000 after acquiring an additional 19,184 shares during the last quarter. Colonial Trust Co SC raised its position in PepsiCo by 6.0% during the fourth quarter. Colonial Trust Co SC now owns 40,943 shares of the company’s stock worth $6,226,000 after acquiring an additional 2,335 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in PepsiCo by 11.6% during the fourth quarter. CoreCap Advisors LLC now owns 3,744 shares of the company’s stock worth $569,000 after buying an additional 388 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock opened at $131.91 on Thursday. The stock has a market capitalization of $180.85 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 3.09 and a beta of 0.47. The firm’s 50-day moving average price is $144.69 and its two-hundred day moving average price is $151.64. PepsiCo, Inc. has a 12-month low of $130.16 and a 12-month high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

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

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.31%. PepsiCo’s payout ratio is 79.71%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup decreased their price objective on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a report on Monday, April 21st. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. TD Cowen lowered their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $160.69.

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.