T. Rowe Price Investment Management Inc. Acquires Shares of 1,111,629 PepsiCo, Inc. $PEP

Key Points

• T. Rowe Price Investment Management Inc. purchased 1,111,629 shares of PepsiCo, valued at approximately $166.68 million, increasing its stake to 0.08% of the company.
• PepsiCo's recent quarterly earnings surpassed analysts' expectations with $2.12 EPS and revenue of $22.73 billion, leading to a projected earnings per share of 8.3 for the current fiscal year.
• The company declared a quarterly dividend of $1.4225 per share, with a dividend yield of 3.8% and a payout ratio of 103.64%.

T. Rowe Price Investment Management Inc. bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,111,629 shares of the company's stock, valued at approximately $166,678,000. T. Rowe Price Investment Management Inc. owned 0.08% of PepsiCo at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PEP. Legacy Financial Group LLC lifted its position in shares of PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after purchasing an additional 71 shares during the period. Pflug Koory LLC lifted its stake in shares of PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after purchasing an additional 76 shares during the period. Hoge Financial Services LLC lifted its position in PepsiCo by 2.1% during the first quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock valued at $545,000 after buying an additional 76 shares during the period. Members Trust Co lifted its position in PepsiCo by 1.3% during the 1st quarter. Members Trust Co now owns 5,941 shares of the company's stock valued at $891,000 after acquiring an additional 77 shares during the period. Finally, Fairview Capital Investment Management LLC lifted its position in PepsiCo by 2.3% during the 4th quarter. Fairview Capital Investment Management LLC now owns 3,526 shares of the company's stock valued at $536,000 after acquiring an additional 78 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PEP. Wells Fargo & Company lifted their target price on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Morgan Stanley upped their target price on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. UBS Group reduced their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $158.73.

PepsiCo Price Performance

Shares of NASDAQ:PEP traded up $0.66 on Friday, reaching $149.64. The company's stock had a trading volume of 5,217,305 shares, compared to its average volume of 7,948,985. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73. The company has a market cap of $204.87 billion, a P/E ratio of 27.26, a PEG ratio of 3.99 and a beta of 0.45. The company has a 50-day simple moving average of $139.32 and a 200 day simple moving average of $140.63. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's revenue was up 1.0% on a year-over-year basis. During the same period last year, the company posted $2.28 EPS. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo's payout ratio is currently 103.64%.

PepsiCo Company 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.