Assetmark Inc. Acquires 5,511 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Assetmark Inc. increased its stake in PepsiCo, Inc. by 9.8%, holding 61,619 shares worth approximately $9.24 million after acquiring an additional 5,511 shares in the first quarter.
• PepsiCo reported a quarterly earnings per share (EPS) of $2.12, exceeding analyst estimates of $2.03, with a revenue of $22.73 billion for the quarter.
• The company declared a quarterly dividend of $1.4225 per share, representing an annual yield of 3.97%, with a payout ratio currently at 103.64%.

Assetmark Inc. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,619 shares of the company's stock after purchasing an additional 5,511 shares during the period. Assetmark Inc.'s holdings in PepsiCo were worth $9,239,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Elite Financial Inc. acquired a new position in shares of PepsiCo in the 1st quarter valued at $28,000. Prudent Man Investment Management Inc. acquired a new position in shares of PepsiCo in the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the 4th quarter valued at $31,000. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 4th quarter worth about $33,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of PepsiCo in the 4th quarter worth about $38,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEP. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. Citigroup increased their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $158.73.

PepsiCo Stock Performance

Shares of PEP stock traded down $3.25 on Thursday, hitting $139.61. The company's stock had a trading volume of 2,884,023 shares, compared to its average volume of 8,539,518. 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 stock's 50 day moving average is $134.27 and its 200-day moving average is $140.98. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The company has a market capitalization of $191.14 billion, a PE ratio of 25.43, a PEG ratio of 3.83 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same period in the previous year, the company earned $2.28 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

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.