Alta Capital Management LLC Buys 2,122 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Alta Capital Management LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,517 shares of the company’s stock after purchasing an additional 2,122 shares during the quarter. Alta Capital Management LLC’s holdings in PepsiCo were worth $2,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in PepsiCo by 5.1% during the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 18.1% during 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 acquiring an additional 3,856,193 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in PepsiCo by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after acquiring an additional 689,383 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in PepsiCo by 21.1% during the 3rd 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 last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

PEP opened at $155.99 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company’s fifty day moving average price is $148.68 and its two-hundred day moving average price is $161.33. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a market cap of $213.94 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 3.09 and a beta of 0.54.

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

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.47%. PepsiCo’s payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEP. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Morgan Stanley dropped their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. HSBC dropped their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $171.47.

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.