CenterBook Partners LP Makes New Investment in PepsiCo, Inc. $PEP

Key Points

• CenterBook Partners LP disclosed a new fourth-quarter position in PepsiCo, buying 13,763 shares valued at about $1.98 million.
• PepsiCo reported strong quarterly results, with EPS of $1.61 topping estimates and revenue of $19.44 billion beating expectations; revenue rose 8.5% year over year.
• The company also raised its quarterly dividend to $1.48 per share, implying a $5.92 annualized payout and a 4.1% yield.

CenterBook Partners LP purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,763 shares of the company's stock, valued at approximately $1,975,000.

A number of other institutional investors have also recently bought and sold shares of PEP. MH & Associates Securities Management Corp ADV acquired a new stake in PepsiCo during the fourth quarter worth about $29,000. Imprint Wealth LLC acquired a new position in PepsiCo during the third quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at approximately $33,000. Evolution Wealth Management Inc. lifted its stake in PepsiCo by 47.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 232 shares of the company's stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Finally, Strategic Advocates LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $33,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Up 1.5%

Shares of NASDAQ:PEP opened at $142.78 on Wednesday. The firm has a market cap of $195.15 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.55 and a beta of 0.35. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48. The business has a fifty day simple moving average of $151.80 and a 200 day simple moving average of $152.45. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly 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. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The business's revenue was up 8.5% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo's previous quarterly dividend of $1.42. PepsiCo's dividend payout ratio (DPR) is 92.94%.

PepsiCo News Summary

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo and Gatik launched a commercial driverless trucking deployment across Texas, Arizona, and Arkansas, signaling potential supply-chain and cost-efficiency benefits. PepsiCo and Gatik launch commercial driverless trucking deployment
• Positive Sentiment: Coverage of PepsiCo’s 41 fully driverless delivery trucks highlighted the company’s progress in autonomous logistics and helped boost investor sentiment. Driverless Trucks Are Here—and They're Delivering Bags of Doritos
• Neutral Sentiment: Some market commentary suggested PepsiCo may be worth reconsidering after its recent pullback, reflecting a valuation debate rather than a clear new catalyst. Is It Time To Reconsider PepsiCo (PEP) After The Recent 9% Share Price Pullback

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BNP Paribas Exane upped their price target on shares of PepsiCo from $191.00 to $195.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Barclays boosted their price objective on PepsiCo from $154.00 to $158.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. JPMorgan Chase & Co. increased their target price on PepsiCo from $172.00 to $178.00 and gave the company an "overweight" rating in a research report on Friday, April 17th. TD Cowen lifted their price target on PepsiCo from $162.00 to $165.00 and gave the company a "hold" rating in a research note on Friday, February 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $169.00 to $173.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo presently has an average rating of "Hold" and a consensus target price of $169.58.

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.

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