Mill Capital Management LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Mill Capital Management LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,514 shares of the company’s stock after selling 103 shares during the period. Mill Capital Management LLC’s holdings in PepsiCo were worth $827,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $2,729,565,000. GAMMA Investing LLC boosted its holdings in PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock valued at $688,017,000 after acquiring an additional 4,564,723 shares in the last quarter. Raymond James Financial Inc. purchased a new position in PepsiCo during the 4th quarter valued at $589,307,000. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of PepsiCo by 106.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock valued at $527,034,000 after purchasing an additional 1,809,391 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PEP. Citigroup lowered their price objective on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. Bank of America reduced their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $148.00 target price on shares of PepsiCo in a research report on Tuesday. UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Jefferies Financial Group lowered shares of PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $159.75.

PepsiCo Trading Up 1.5%

Shares of PEP stock opened at $131.05 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The stock has a market capitalization of $179.68 billion, a P/E ratio of 19.27, a P/E/G ratio of 3.71 and a beta of 0.45. The firm’s 50 day moving average is $132.60 and its 200 day moving average is $143.54.

PepsiCo (NASDAQ:PEP) last released its quarterly 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). The firm had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business earned $1.61 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is 83.68%.

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.