Federated Hermes Inc. grew its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,991,264 shares of the company's stock after buying an additional 238,704 shares during the quarter. Federated Hermes Inc. owned 0.15% of PepsiCo worth $298,570,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PEP. Geode Capital Management LLC lifted its holdings in PepsiCo by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock worth $4,717,069,000 after buying an additional 582,254 shares during the period. Northern Trust Corp lifted its holdings in shares of PepsiCo by 8.7% during the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of PepsiCo by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 14,062,857 shares of the company's stock valued at $2,108,585,000 after purchasing an additional 49,699 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PepsiCo by 5.6% during the 4th quarter. Franklin Resources Inc. now owns 13,748,403 shares of the company's stock valued at $2,090,582,000 after purchasing an additional 727,087 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of PepsiCo by 7.4% during the 4th quarter. Capital Research Global Investors now owns 12,048,646 shares of the company's stock valued at $1,832,116,000 after purchasing an additional 831,148 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. JPMorgan Chase & Co. cut their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. Citigroup increased their price target on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Finally, UBS Group cut their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $158.73.
Get Our Latest Stock Report on PepsiCo
PepsiCo Price Performance
PEP traded up $1.58 during trading on Friday, reaching $139.50. The company's stock had a trading volume of 4,286,696 shares, compared to its average volume of 8,571,899. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The firm has a fifty day simple moving average of $134.43 and a two-hundred day simple moving average of $140.93. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The company has a market cap of $190.99 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 3.81 and a beta of 0.45.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly 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. The firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current 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 given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is presently 103.64%.
PepsiCo Profile
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Free Report)
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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