Brandywine Global Investment Management LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Brandywine Global Investment Management LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 80.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,413 shares of the company's stock after buying an additional 233,072 shares during the quarter. Brandywine Global Investment Management LLC's holdings in PepsiCo were worth $78,630,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Elite Financial Inc. purchased a new stake in PepsiCo during the first quarter worth $28,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo during the fourth quarter worth $31,000. GKV Capital Management Co. Inc. purchased a new stake in PepsiCo during the fourth quarter worth $38,000. Bridge Generations Wealth Management LLC purchased a new stake in PepsiCo during the fourth quarter worth $38,000. Finally, Sunbeam Capital Management LLC purchased a new stake in PepsiCo during the fourth quarter worth $47,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $148.62 on Friday. The firm has a market capitalization of $203.47 billion, a PE ratio of 27.07, a P/E/G ratio of 3.98 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The business has a 50-day moving average of $136.99 and a two-hundred day moving average of $140.63. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion during 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%. The firm's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 earnings per share. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo's dividend payout ratio is presently 103.64%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of analyst reports. Citigroup boosted their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. cut their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Wells Fargo & Company boosted their price target on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Barclays boosted their price target on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. One research 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. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and an average target price of $158.73.

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.

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