Empower Advisory Group LLC Grows Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Empower Advisory Group LLC increased its stake in PepsiCo by 13.5%, totaling 428,847 shares valued at approximately $64.3 million.
• PepsiCo reported a quarterly EPS of $2.12, exceeding analysts' expectations, with a revenue of $22.73 billion, a 1.0% increase from the previous year.
• The company announced a quarterly dividend of $1.4225 per share, which yields 4.1%, with a payout ratio of 103.64%.

Empower Advisory Group LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 428,847 shares of the company's stock after buying an additional 51,128 shares during the period. Empower Advisory Group LLC's holdings in PepsiCo were worth $64,301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock worth $2,494,300,000 after acquiring an additional 1,306,818 shares during the last quarter. Bank of New York Mellon Corp raised its position in PepsiCo by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock worth $2,108,585,000 after acquiring an additional 49,699 shares during the last quarter. Capital Research Global Investors raised its position in PepsiCo by 7.4% during the fourth quarter. Capital Research Global Investors now owns 12,048,646 shares of the company's stock worth $1,832,116,000 after acquiring an additional 831,148 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PepsiCo by 3.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,317,520 shares of the company's stock worth $1,720,942,000 after acquiring an additional 416,537 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in PepsiCo by 9.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,878,718 shares of the company's stock worth $1,631,155,000 after acquiring an additional 923,766 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $139.56 on Tuesday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. 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 company has a 50 day moving average price of $134.83 and a 200 day moving average price of $140.77. The firm has a market capitalization of $191.07 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 3.71 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued 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. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm had revenue of $22.73 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the prior year, the business posted $2.28 earnings per share. PepsiCo's revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed 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. This represents a $5.69 annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

Analysts Set New Price Targets

PEP has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. Wells Fargo & Company boosted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Citigroup boosted their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, July 18th. 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $158.73.

PepsiCo 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.

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