GAMMA Investing LLC Purchases 4,564,723 Shares of PepsiCo, Inc. (NASDAQ:PEP)

GAMMA Investing LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 19,106.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,588,614 shares of the company's stock after purchasing an additional 4,564,723 shares during the quarter. GAMMA Investing LLC owned approximately 0.33% of PepsiCo worth $688,017,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Tcfg Wealth Management LLC boosted its holdings in PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock valued at $295,000 after purchasing an additional 66 shares in the last quarter. Osprey Private Wealth LLC lifted its position in shares of PepsiCo by 0.5% during the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock worth $2,290,000 after buying an additional 70 shares during the period. TAGStone Capital Inc. boosted its stake in PepsiCo by 2.8% in the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock valued at $388,000 after buying an additional 70 shares in the last quarter. Lokken Investment Group LLC grew its position in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock valued at $1,171,000 after acquiring an additional 70 shares during the period. Finally, Leavell Investment Management Inc. raised its stake in PepsiCo by 0.3% during the fourth quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company's stock worth $4,271,000 after acquiring an additional 71 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent analyst reports. Barclays reduced their target price on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. BNP Paribas cut their target price on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Finally, CICC Research reissued a "market perform" rating on shares of PepsiCo in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $160.69.

PepsiCo Trading Down 0.2%

Shares of PEP traded down $0.30 on Friday, reaching $131.62. 12,988,871 shares of the company's stock were exchanged, compared to its average volume of 6,558,275. The business has a 50 day moving average price of $137.98 and a two-hundred day moving average price of $147.27. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The stock has a market capitalization of $180.46 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the company earned $1.61 EPS. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.32%. PepsiCo's dividend payout ratio is 83.68%.

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.