Torray Investment Partners LLC Takes $17.22 Million Position in PepsiCo, Inc. $PEP

Torray Investment Partners LLC acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 122,623 shares of the company’s stock, valued at approximately $17,221,000. PepsiCo accounts for approximately 2.3% of Torray Investment Partners LLC’s investment portfolio, making the stock its 17th largest position.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Vanguard Group Inc. lifted its holdings in shares of PepsiCo by 1.3% during the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after buying an additional 1,761,785 shares during the last quarter. State Street Corp raised its stake in PepsiCo by 1.6% during the 2nd quarter. State Street Corp now owns 58,419,849 shares of the company’s stock valued at $7,713,757,000 after purchasing an additional 920,045 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PepsiCo by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after purchasing an additional 86,695 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after purchasing an additional 2,556,163 shares during the period. Finally, Norges Bank acquired a new position in shares of PepsiCo during the second quarter valued at about $2,330,594,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP opened at $139.92 on Tuesday. The company has a fifty day moving average price of $146.11 and a two-hundred day moving average price of $144.03. The firm has a market capitalization of $191.32 billion, a PE ratio of 26.60, a P/E/G ratio of 4.66 and a beta of 0.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $160.15. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $2.31 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be issued a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. PepsiCo’s payout ratio is currently 108.17%.

Analyst Ratings Changes

PEP has been the topic of several research reports. BNP Paribas Exane lowered their price target on PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Royal Bank Of Canada lowered their price objective on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Evercore ISI raised their target price on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. JPMorgan Chase & Co. upgraded shares of PepsiCo from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $151.00 to $164.00 in a research note on Wednesday, December 10th. Finally, Rothschild & Co Redburn boosted their price target on shares of PepsiCo from $117.00 to $120.00 and gave the company a “sell” rating in a report on Monday, December 15th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.