Cullen Frost Bankers Inc. Has $22.45 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cullen Frost Bankers Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,151 shares of the company’s stock after selling 18,215 shares during the period. Cullen Frost Bankers Inc.’s holdings in PepsiCo were worth $22,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEP. International Assets Investment Management LLC lifted its position in PepsiCo by 9,623.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after acquiring an additional 3,026,611 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of PepsiCo during the third quarter valued at about $329,179,000. Flossbach Von Storch AG raised its position in shares of PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after buying an additional 1,495,586 shares during the last quarter. California Public Employees Retirement System raised its position in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of PepsiCo by 68.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock valued at $496,382,000 after buying an additional 1,183,371 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a research report on Monday, February 12th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. Wedbush reissued an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Jefferies Financial Group increased their price target on shares of PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average price target of $187.42.

PepsiCo Price Performance

Shares of PEP traded up $2.20 during mid-day trading on Tuesday, hitting $178.02. 3,425,581 shares of the company traded hands, compared to its average volume of 5,690,610. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $196.88. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The business has a 50-day moving average of $170.49 and a 200 day moving average of $168.70. The stock has a market capitalization of $244.74 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.87 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS 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 business had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. PepsiCo’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio is 76.09%.

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.