Connor Clark & Lunn Investment Management Ltd. Has $19.72 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 54.6% in the second quarter, Holdings Channel reports. The institutional investor owned 133,110 shares of the company’s stock after acquiring an additional 47,018 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in PepsiCo were worth $19,723,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in PepsiCo by 2.2% in the first quarter. Geode Capital Management LLC now owns 21,779,607 shares of the company’s stock valued at $3,072,302,000 after purchasing an additional 477,978 shares in the last quarter. Magellan Asset Management Ltd raised its stake in PepsiCo by 18.8% in the first quarter. Magellan Asset Management Ltd now owns 16,613,014 shares of the company’s stock valued at $2,349,911,000 after purchasing an additional 2,629,100 shares in the last quarter. Morgan Stanley raised its stake in PepsiCo by 4.7% in the first quarter. Morgan Stanley now owns 13,533,307 shares of the company’s stock valued at $1,914,289,000 after purchasing an additional 605,381 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in PepsiCo by 15.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,356,061 shares of the company’s stock valued at $1,464,865,000 after purchasing an additional 1,364,568 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in PepsiCo by 8.8% in the second quarter. Deutsche Bank AG now owns 9,262,690 shares of the company’s stock valued at $1,372,451,000 after purchasing an additional 751,095 shares in the last quarter. 70.55% of the stock is owned by institutional investors.

NASDAQ:PEP opened at $154.20 on Friday. The stock has a market cap of $213.12 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 2.47. The stock’s 50-day moving average is $155.87 and its 200-day moving average is $148.62. PepsiCo, Inc. has a 1-year low of $128.32 and a 1-year high of $159.63.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, July 12th. The company reported $1.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.19. The company had revenue of $19.22 billion for the quarter, compared to analysts’ expectations of $17.95 billion. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.32 earnings per share. As a group, equities analysts forecast that PepsiCo, Inc. will post 6.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be paid a $1.075 dividend. This represents a $4.30 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, September 2nd. PepsiCo’s dividend payout ratio is currently 77.90%.

A number of research analysts recently commented on PEP shares. Truist boosted their price target on PepsiCo from $135.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, July 14th. Guggenheim lifted their target price on PepsiCo from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday. Credit Suisse Group cut PepsiCo from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $155.00 to $157.00 in a research report on Wednesday, July 14th. Royal Bank of Canada lifted their target price on PepsiCo from $153.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 14th. Finally, Zacks Investment Research cut PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 target price on the stock. in a research report on Monday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $160.77.

In related news, SVP Marie T. Gallagher sold 7,409 shares of PepsiCo stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $155.70, for a total value of $1,153,581.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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