Adams Diversified Equity Fund Inc. Acquires 138,200 Shares of PepsiCo, Inc. $PEP

Key Points

• Adams Diversified Equity Fund increased its PepsiCo stake by 358.3% in the first quarter, buying 138,200 additional shares and bringing its total holding to 176,776 shares valued at about $27.45 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 73.07% of PepsiCo’s stock. Several large investors, including Vanguard and State Street, also recently added to their positions.
• PepsiCo continues to show solid fundamentals with better-than-expected quarterly earnings and revenue, and it recently raised its dividend to $1.48 per share, extending its 54-year streak of dividend growth.

Adams Diversified Equity Fund Inc. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 358.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 176,776 shares of the company's stock after purchasing an additional 138,200 shares during the period. PepsiCo comprises about 1.0% of Adams Diversified Equity Fund Inc.'s investment portfolio, making the stock its 25th biggest position. Adams Diversified Equity Fund Inc.'s holdings in PepsiCo were worth $27,452,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in PepsiCo by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company's stock valued at $19,875,205,000 after purchasing an additional 1,612,652 shares during the last quarter. State Street Corp increased its stake in shares of PepsiCo by 1.8% in the third quarter. State Street Corp now owns 59,499,819 shares of the company's stock worth $8,356,155,000 after buying an additional 1,079,970 shares during the period. Auto Owners Insurance Co raised its holdings in PepsiCo by 14,857.8% during the 4th quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company's stock valued at $7,068,777,000 after buying an additional 48,923,629 shares during the last quarter. Geode Capital Management LLC boosted its position in PepsiCo by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company's stock valued at $4,814,835,000 after buying an additional 360,936 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in PepsiCo by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company's stock valued at $4,031,646,000 after buying an additional 295,955 shares during the period. Hedge funds and other institutional investors own 73.07% of the company's stock.

Trending Headlines about PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo’s brand and growth efforts are getting fresh visibility, including marketing around “modern soda,” dirty-soda products, and broader consumer engagement. These trends could support beverage demand and help the company defend share in a changing soft-drink market.
• Positive Sentiment: Analyst support remains constructive overall: Citigroup kept a Buy rating even after trimming its price target to $170, implying meaningful upside from current levels. That helps reassure investors that the stock still looks attractively valued despite recent weakness.
• Positive Sentiment: PepsiCo continues to stand out as a diversified dividend stock, with coverage highlighting its 54-year streak of dividend growth. For income-oriented investors, that long track record can provide support ahead of earnings. Article Title

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PepsiCo from $173.00 to $168.00 and set a "buy" rating on the stock in a research report on Thursday, June 18th. Rothschild & Co Redburn raised their target price on PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Piper Sandler reduced their price target on PepsiCo from $181.00 to $178.00 and set an "overweight" rating on the stock in a report on Friday, June 12th. Royal Bank Of Canada lowered their price target on PepsiCo from $165.00 to $163.00 and set a "sector perform" rating for the company in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. increased their price objective on PepsiCo from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $166.85.

PepsiCo Price Performance

PEP opened at $141.39 on Friday. The stock has a fifty day simple moving average of $148.40 and a two-hundred day simple moving average of $152.01. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The company has a market cap of $193.25 billion, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.82 and a beta of 0.35. PepsiCo, Inc. has a 12-month low of $128.11 and a 12-month high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to analysts' expectations of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 EPS. Research analysts predict that PepsiCo, Inc. will post 8.62 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a $1.48 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. This is an increase from PepsiCo's previous quarterly dividend of $1.42. PepsiCo's payout ratio is presently 92.94%.

PepsiCo Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.