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

Cullen Frost Bankers Inc. cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,151 shares of the company’s stock after selling 18,215 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in PepsiCo were worth $22,445,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PEP. Concord Wealth Partners grew its holdings in PepsiCo by 5.1% in the third quarter. Concord Wealth Partners now owns 12,891 shares of the company’s stock worth $2,184,000 after purchasing an additional 622 shares during the period. Everhart Financial Group Inc. lifted its stake in shares of PepsiCo by 0.9% in the third quarter. Everhart Financial Group Inc. now owns 7,621 shares of the company’s stock valued at $1,291,000 after buying an additional 66 shares in the last quarter. Hixon Zuercher LLC lifted its stake in shares of PepsiCo by 8.6% in the third quarter. Hixon Zuercher LLC now owns 30,357 shares of the company’s stock valued at $5,144,000 after buying an additional 2,411 shares in the last quarter. JB Capital LLC lifted its stake in shares of PepsiCo by 780.2% in the third quarter. JB Capital LLC now owns 46,112 shares of the company’s stock valued at $7,813,000 after buying an additional 40,873 shares in the last quarter. Finally, WealthShield Partners LLC lifted its stake in shares of PepsiCo by 1.3% in the third quarter. WealthShield Partners LLC now owns 9,383 shares of the company’s stock valued at $1,590,000 after buying an additional 122 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEP. JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Jefferies Financial Group raised their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, April 5th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Monday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. Finally, Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Monday, March 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Stock Performance

NASDAQ PEP traded up $2.20 during trading hours on Tuesday, reaching $178.02. 3,425,581 shares of the company were exchanged, compared to its average volume of 5,690,610. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88. The business’s 50 day simple moving average is $170.49 and its 200-day simple moving average is $168.70. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $244.74 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.87 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $1.50 earnings per share. On average, equities research analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.04%. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

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.