Gateway Investment Advisers LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 353,082 shares of the company's stock after purchasing an additional 33,046 shares during the quarter. Gateway Investment Advisers LLC's holdings in PepsiCo were worth $52,941,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in PepsiCo in the 4th quarter valued at approximately $2,729,565,000. GAMMA Investing LLC raised its holdings in shares of PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after purchasing an additional 4,564,723 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of PepsiCo in the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in PepsiCo in the fourth quarter valued at $221,297,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PEP has been the topic of several analyst reports. Bank of America cut their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. CICC Research reiterated a "market perform" rating on shares of PepsiCo in a report on Friday, February 7th. Royal Bank of Canada restated a "sector perform" rating and issued a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. upped their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Finally, UBS Group decreased their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. One investment 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, PepsiCo has an average rating of "Hold" and a consensus price target of $160.69.
Check Out Our Latest Report on PEP
PepsiCo Price Performance
PepsiCo stock opened at $130.03 on Friday. The company has a market capitalization of $178.28 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 3.09 and a beta of 0.47. The stock's 50 day moving average is $136.15 and its 200-day moving average is $146.25. 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, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the previous year, the business earned $1.61 EPS. The firm's quarterly revenue was down 1.8% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.38%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. PepsiCo's payout ratio is presently 83.68%.
About PepsiCo
(
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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