Garland Capital Management Inc. Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Garland Capital Management Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,035 shares of the company’s stock after selling 105 shares during the quarter. PepsiCo comprises approximately 3.6% of Garland Capital Management Inc.’s portfolio, making the stock its 11th biggest position. Garland Capital Management Inc.’s holdings in PepsiCo were worth $4,415,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in PepsiCo during the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares during the period. State Street Corp grew its holdings in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Franklin Resources Inc. grew its holdings in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares during the period. Finally, Swedbank AB grew its holdings in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 1.2 %

Shares of PEP opened at $145.45 on Friday. The firm has a market capitalization of $199.48 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The business’s fifty day moving average price is $149.04 and its two-hundred day moving average price is $159.22. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

Analysts Set New Price Targets

Several research firms have weighed in on PEP. Jefferies Financial Group lowered 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. UBS Group lowered their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Morgan Stanley lowered their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Royal Bank of Canada assumed coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average target price of $169.88.

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.