Cullen Investment Group LTD. Has $4.83 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Cullen Investment Group LTD. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,236 shares of the company’s stock after selling 3,710 shares during the period. Cullen Investment Group LTD.’s holdings in PepsiCo were worth $4,833,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at about $28,000. Collier Financial acquired a new position in shares of PepsiCo in the fourth quarter valued at about $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at about $30,000. Prudent Man Investment Management Inc. acquired a new stake in PepsiCo during the fourth quarter worth about $30,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in PepsiCo during the fourth quarter worth about $31,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEP. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. BNP Paribas reduced their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. HSBC reduced their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. UBS Group reduced their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $160.69.

PepsiCo Stock Down 0.5%

PEP stock opened at $130.67 on Thursday. The firm has a 50-day moving average price of $138.55 and a 200-day moving average price of $147.72. The stock has a market capitalization of $179.16 billion, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.61 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Friday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is 83.68%.

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.