CCM Investment Group LLC Takes $5.16 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• CCM Investment Group LLC has acquired 34,594 shares of PepsiCo, Inc. for approximately $5.16 million as part of its investment strategy during the first quarter.
• PepsiCo reported $2.12 earnings per share for the latest quarter, exceeding analysts' expectations, with a net revenue of $22.73 billion.
• The company announced a quarterly dividend of $1.4225 per share, with a yield of 3.9%, and a payout ratio of 103.64%.

CCM Investment Group LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,594 shares of the company's stock, valued at approximately $5,164,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. increased its holdings in PepsiCo by 3.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after purchasing an additional 21,859 shares during the last quarter. Ignite Planners LLC increased its holdings in shares of PepsiCo by 4.2% in the 1st quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock valued at $566,000 after acquiring an additional 151 shares during the last quarter. Ossiam increased its holdings in shares of PepsiCo by 138.9% in the 4th quarter. Ossiam now owns 73,604 shares of the company's stock valued at $11,192,000 after acquiring an additional 42,793 shares during the last quarter. Graybill Wealth Management LTD. bought a new stake in shares of PepsiCo in the 1st quarter valued at approximately $3,633,000. Finally, OMERS ADMINISTRATION Corp increased its holdings in shares of PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after acquiring an additional 13,461 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.2%

NASDAQ:PEP traded down $0.34 during trading hours on Monday, hitting $144.87. 5,772,177 shares of the company were exchanged, compared to its average volume of 9,407,565. The stock has a market capitalization of $198.34 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 3.87 and a beta of 0.45. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $179.73. The company has a fifty day simple moving average of $135.98 and a 200 day simple moving average of $140.57.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo's payout ratio is 103.64%.

Analyst Ratings Changes

A number of brokerages recently commented on PEP. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research note on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, UBS Group lowered their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $158.73.

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.