CCLA Investment Management Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

CCLA Investment Management raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 717,031 shares of the company’s stock after purchasing an additional 10,103 shares during the quarter. PepsiCo makes up approximately 1.8% of CCLA Investment Management’s portfolio, making the stock its 22nd largest holding. CCLA Investment Management owned 0.05% of PepsiCo worth $118,996,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. Flossbach Von Storch AG lifted its holdings in shares of PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after buying an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. increased its position in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp increased its position in shares of PepsiCo by 429.3% in the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of PepsiCo in the first quarter worth approximately $166,243,000. Finally, Swedbank AB bought a new position in shares of PepsiCo in the first quarter worth approximately $148,336,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. BNP Paribas initiated coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Barclays increased their price target on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Stock Down 0.2 %

Shares of PepsiCo stock opened at $176.87 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The stock has a market capitalization of $243.16 billion, a price-to-earnings ratio of 25.67, a P/E/G ratio of 3.06 and a beta of 0.53. The company’s 50 day moving average price is $172.97 and its 200-day moving average price is $171.65.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter last year, the business earned $2.09 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

About PepsiCo

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.