DLK Investment Management LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

DLK Investment Management LLC cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,079 shares of the company’s stock after selling 1,450 shares during the quarter. PepsiCo comprises about 2.2% of DLK Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. DLK Investment Management LLC’s holdings in PepsiCo were worth $5,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Brighton Jones LLC boosted its stake in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in PepsiCo by 2.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock worth $71,527,000 after buying an additional 11,538 shares in the last quarter. Pinnacle West Asset Management Inc. boosted its position in PepsiCo by 4.8% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 5,830 shares of the company’s stock valued at $887,000 after buying an additional 265 shares during the last quarter. Kirtland Hills Capital Management LLC increased its position in shares of PepsiCo by 35.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 5,910 shares of the company’s stock worth $899,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its stake in shares of PepsiCo by 35.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 21,854 shares of the company’s stock worth $3,354,000 after acquiring an additional 5,750 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 2.3%

Shares of NASDAQ PEP opened at $128.02 on Thursday. PepsiCo, Inc. has a 12-month low of $127.63 and a 12-month high of $180.91. The company has a market cap of $175.53 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The stock’s 50 day simple moving average is $132.36 and its 200 day simple moving average is $143.44.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The company had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.44%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Analyst Ratings Changes

A number of brokerages have weighed in on PEP. Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. UBS Group decreased their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Morgan Stanley cut their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. Royal Bank Of Canada reissued a “sector perform” rating and set a $148.00 price objective on shares of PepsiCo in a report on Tuesday. Finally, Barclays cut their target price on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $159.75.

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.