PepsiCo, Inc. $PEP Shares Purchased by Delta Global Management LP

Delta Global Management LP increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 605.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,303 shares of the company’s stock after buying an additional 116,974 shares during the quarter. PepsiCo accounts for about 1.4% of Delta Global Management LP’s portfolio, making the stock its 21st largest position. Delta Global Management LP’s holdings in PepsiCo were worth $19,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo during the second quarter worth about $27,000. JCIC Asset Management Inc. purchased a new position in shares of PepsiCo in the 3rd quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its stake in PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Imprint Wealth LLC purchased a new stake in PepsiCo during the 3rd quarter worth approximately $31,000. Finally, Halbert Hargrove Global Advisors LLC increased its stake in PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after purchasing an additional 207 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PEP. Royal Bank Of Canada lifted their price objective on shares of PepsiCo from $156.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Monday, March 2nd. Barclays raised their target price on PepsiCo from $148.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. TD Cowen boosted their price target on PepsiCo from $162.00 to $165.00 and gave the company a “hold” rating in a research note on Friday, February 20th. Jefferies Financial Group raised their price objective on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Finally, JPMorgan Chase & Co. upped their target price on PepsiCo from $164.00 to $176.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $169.00.

PepsiCo Stock Performance

Shares of PEP stock opened at $159.88 on Monday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The stock has a market cap of $218.50 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.07 and a beta of 0.39. The business has a 50-day simple moving average of $156.71 and a 200-day simple moving average of $149.71.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Monday, February 2nd. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. The firm had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.96 billion. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.PepsiCo’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $1.96 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.6%. PepsiCo’s dividend payout ratio (DPR) is presently 94.83%.

PepsiCo announced that its board has approved a stock buyback plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About PepsiCo

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.