Bridge Creek Capital Management LLC Has $6.51 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Bridge Creek Capital Management LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,193 shares of the company’s stock after purchasing an additional 845 shares during the period. PepsiCo comprises about 2.1% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Bridge Creek Capital Management LLC’s holdings in PepsiCo were worth $6,509,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after acquiring an additional 578,083 shares in the last quarter. Norges Bank acquired a new stake in PepsiCo in the 4th quarter valued at about $2,686,139,000. California Public Employees Retirement System increased its position in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares in the last quarter. Franklin Resources Inc. increased its position in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after acquiring an additional 1,345,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in PepsiCo by 15.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after acquiring an additional 1,105,127 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 0.1 %

PepsiCo stock opened at $167.38 on Monday. The company’s 50 day simple moving average is $173.71 and its 200 day simple moving average is $170.36. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The firm has a market capitalization of $230.11 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 2.72 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.24%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is presently 81.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PEP shares. Wedbush restated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Finally, Barclays lowered their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and an average price target of $186.15.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

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.