Cullen Capital Management LLC Sells 160 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cullen Capital Management LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,401 shares of the company’s stock after selling 160 shares during the quarter. Cullen Capital Management LLC’s holdings in PepsiCo were worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new position in shares of PepsiCo during the 4th quarter worth $75,235,000. AllGen Financial Advisors Inc. raised its holdings in PepsiCo by 2.3% in the 4th quarter. AllGen Financial Advisors Inc. now owns 20,649 shares of the company’s stock worth $3,140,000 after purchasing an additional 457 shares during the period. Prudential PLC grew its holdings in PepsiCo by 333.6% during the fourth quarter. Prudential PLC now owns 14,408 shares of the company’s stock valued at $2,191,000 after purchasing an additional 11,085 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in PepsiCo by 2.9% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,058 shares of the company’s stock worth $775,000 after buying an additional 142 shares in the last quarter. Finally, Atlas Capital Advisors Inc. raised its stake in shares of PepsiCo by 9.5% in the fourth quarter. Atlas Capital Advisors Inc. now owns 1,149 shares of the company’s stock worth $175,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PEP shares. UBS Group reduced their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Morgan Stanley decreased their price objective 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. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price for the company. Evercore ISI decreased their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $169.88.

PepsiCo Trading Down 3.1 %

PEP stock opened at $146.61 on Friday. The firm has a market cap of $201.05 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. The firm has a fifty day moving average price of $149.33 and a 200 day moving average price of $157.07. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $1.78 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

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.