Narwhal Capital Management Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Narwhal Capital Management cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 22.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,794 shares of the company’s stock after selling 12,818 shares during the quarter. Narwhal Capital Management’s holdings in PepsiCo were worth $6,716,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PEP. Ossiam boosted its stake in PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company’s stock valued at $11,192,000 after acquiring an additional 42,793 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its position in shares of PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock worth $18,977,000 after purchasing an additional 13,461 shares in the last quarter. Hutner Capital Management Inc. grew its stake in PepsiCo by 14.6% during the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock worth $8,178,000 after buying an additional 6,865 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in PepsiCo during the 4th quarter valued at about $47,899,000. Finally, Inspire Trust Co. N.A. raised its stake in PepsiCo by 39.2% in the fourth quarter. Inspire Trust Co. N.A. now owns 17,125 shares of the company’s stock valued at $2,604,000 after buying an additional 4,825 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 0.0%

Shares of PEP opened at $129.09 on Tuesday. The stock’s 50-day moving average price is $132.83 and its 200-day moving average price is $143.63. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The company has a market capitalization of $176.99 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 3.71 and a beta of 0.46. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company 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 company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 EPS. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $1.4225 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.41%. PepsiCo’s payout ratio is presently 83.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PEP shares. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Morgan Stanley dropped their target price on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Barclays decreased their price target on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. UBS Group lowered their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $160.69.

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.