Levin Capital Strategies L.P. Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Levin Capital Strategies L.P. lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 59.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,807 shares of the company’s stock after selling 2,615 shares during the period. Levin Capital Strategies L.P.’s holdings in PepsiCo were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC boosted its stake in shares of PepsiCo by 59.4% during the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after acquiring an additional 370,122 shares in the last quarter. Harbour Capital Advisors LLC grew its holdings in PepsiCo by 0.4% in the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after purchasing an additional 102 shares during the period. Meadow Creek Wealth Advisors LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $405,000. Manchester Capital Management LLC raised its stake in shares of PepsiCo by 1.4% during the 3rd quarter. Manchester Capital Management LLC now owns 13,240 shares of the company’s stock worth $2,243,000 after buying an additional 185 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC lifted its position in shares of PepsiCo by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock valued at $2,091,000 after buying an additional 3,159 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.4 %

PepsiCo stock traded up $0.70 during mid-day trading on Friday, reaching $176.15. 3,491,857 shares of the company’s stock were exchanged, compared to its average volume of 5,741,471. The company has a market cap of $242.17 billion, a P/E ratio of 26.49, a P/E/G ratio of 2.86 and a beta of 0.52. The company has a fifty day moving average of $170.01 and a 200-day moving average of $168.26. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $196.88. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter last year, the company earned $1.50 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio is presently 76.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $195.00 in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a report on Friday, February 9th. Finally, Wedbush restated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.42.

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.