LifePro Asset Management lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 22.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,608 shares of the company’s stock after acquiring an additional 662 shares during the period. LifePro Asset Management’s holdings in PepsiCo were worth $668,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in PepsiCo by 34.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock worth $188,812,000 after purchasing an additional 286,169 shares during the period. AMI Investment Management Inc. lifted its holdings in PepsiCo by 0.7% in the first quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock worth $2,783,000 after purchasing an additional 113 shares during the period. Mather Group LLC. lifted its holdings in PepsiCo by 29.3% in the first quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock worth $931,000 after purchasing an additional 1,262 shares during the period. Wsfs Capital Management LLC lifted its holdings in PepsiCo by 117.2% in the first quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock worth $501,000 after purchasing an additional 1,616 shares during the period. Finally, Equitable Holdings Inc. lifted its holdings in PepsiCo by 8.5% in the first quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock worth $4,504,000 after purchasing an additional 2,116 shares during the period. Institutional investors own 71.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on PEP. Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $193.00 to $195.00 in a report on Friday, July 14th. Wedbush upped their price target on shares of PepsiCo from $200.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Evercore ISI upped their price target on shares of PepsiCo from $190.00 to $195.00 in a report on Friday, July 14th. Barclays cut their price target on shares of PepsiCo from $206.00 to $198.00 in a report on Monday, July 10th. Finally, Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price target for the company. in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $192.00.
PepsiCo Price Performance
Shares of PEP opened at $179.38 on Tuesday. The company has a market capitalization of $246.93 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 2.95 and a beta of 0.54. PepsiCo, Inc. has a fifty-two week low of $160.98 and a fifty-two week high of $196.88. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.84 and a quick ratio of 0.64. The business’s 50-day moving average is $182.67 and its 200-day moving average is $184.61.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its earnings results on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.13. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The company had revenue of $22.32 billion for the quarter, compared to the consensus estimate of $21.73 billion. During the same quarter in the prior year, the company earned $1.86 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 7.48 EPS for the current fiscal year.
PepsiCo Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $1.265 dividend. The ex-dividend date is Thursday, August 31st. This represents a $5.06 dividend on an annualized basis and a yield of 2.82%. PepsiCo’s dividend payout ratio is currently 88.62%.
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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