ABC Arbitrage SA Buys New Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• ABC Arbitrage SA purchased 8,143 shares of PepsiCo, valued at approximately $1,221,000, in the first quarter.
• PepsiCo reported a quarterly EPS of $2.12, exceeding analyst estimates by $0.09, with a revenue of $22.73 billion for the same period.
• The company declared a quarterly dividend of $1.4225 per share, representing a yield of 4.1% and a payout ratio of 103.64%.

ABC Arbitrage SA purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,143 shares of the company's stock, valued at approximately $1,221,000.

Several other large investors have also recently bought and sold shares of PEP. GAMMA Investing LLC boosted its position in PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after purchasing an additional 4,564,723 shares during the period. Assenagon Asset Management S.A. boosted its position in PepsiCo by 106.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after purchasing an additional 1,809,391 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PepsiCo during the fourth quarter worth approximately $221,297,000. Northern Trust Corp grew its holdings in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after buying an additional 1,306,818 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in PepsiCo by 292.9% in the 4th quarter. APG Asset Management N.V. now owns 1,559,081 shares of the company's stock valued at $228,946,000 after buying an additional 1,162,315 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays raised their target price on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. JPMorgan Chase & Co. lowered their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Finally, Citigroup raised their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Trading Up 1.0%

NASDAQ:PEP traded up $1.35 during mid-day trading on Wednesday, hitting $140.80. The company had a trading volume of 6,746,011 shares, compared to its average volume of 9,650,565. The firm has a market cap of $192.77 billion, a P/E ratio of 25.65, a P/E/G ratio of 3.72 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The business's fifty day moving average is $134.99 and its two-hundred day moving average is $140.76. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. PepsiCo's revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 earnings per share. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) 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.