Payden & Rygel Sells 11,800 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Payden & Rygel trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 51.1% in the 4th quarter, HoldingsChannel reports. The fund owned 11,300 shares of the company’s stock after selling 11,800 shares during the quarter. Payden & Rygel’s holdings in PepsiCo were worth $1,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Collier Financial purchased a new stake in shares of PepsiCo during the fourth quarter worth about $28,000. WealthTrak Capital Management LLC purchased a new stake in PepsiCo during the 4th quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $30,000. Prudent Man Investment Management Inc. purchased a new position in shares of PepsiCo in the fourth quarter worth $30,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the third quarter worth $31,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PEP. Royal Bank of Canada assumed coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target on the stock. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Evercore ISI decreased their price objective on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, Morgan Stanley lowered their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $169.88.

PepsiCo Stock Down 3.1 %

Shares of NASDAQ:PEP opened at $146.61 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm has a fifty day moving average price of $149.33 and a 200 day moving average price of $157.21. The stock has a market cap of $201.05 billion, a P/E ratio of 21.09, a P/E/G ratio of 3.09 and a beta of 0.49.

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

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

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.