M&G Plc bought a new position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 411,545 shares of the company’s stock, valued at approximately $72,020,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after purchasing an additional 578,083 shares in the last quarter. Norges Bank bought a new stake in shares of PepsiCo in the fourth quarter worth $2,686,139,000. California Public Employees Retirement System grew its holdings in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after acquiring an additional 1,105,127 shares during the period. Institutional investors own 73.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Barclays lifted their price objective on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday. Bank of America cut their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. TD Cowen cut their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $185.53.
Insider Buying and Selling at PepsiCo
In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.
PepsiCo Price Performance
Shares of NASDAQ:PEP traded down $1.01 during mid-day trading on Friday, reaching $169.36. The stock had a trading volume of 5,332,848 shares, compared to its average volume of 5,599,835. The company has a current ratio of 0.83, a quick ratio of 0.68 and a debt-to-equity ratio of 1.87. The company has a market cap of $232.63 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.52. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38. The business’s 50 day moving average price is $169.91 and its 200 day moving average price is $169.91.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 earnings per share. Research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.
PepsiCo Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.20%. PepsiCo’s dividend payout ratio is 78.66%.
PepsiCo 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.
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