Great Lakes Advisors LLC Increases Stock Position in PepsiCo, Inc. $PEP

Key Points

• Great Lakes Advisors LLC increased its stake in PepsiCo, Inc. by 10.5%, acquiring 61,564 additional shares during the first quarter of 2023, bringing their total ownership to 648,031 shares valued at approximately $96.7 million.
• PepsiCo's recent quarterly earnings exceeded estimates, reporting $2.12 earnings per share against a consensus of $2.03, with a revenue of $22.73 billion surpassing expectations of $22.28 billion.
• The company announced a quarterly dividend of $1.4225 per share, yielding 3.9%, with an ex-dividend date of September 5th.

Great Lakes Advisors LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 648,031 shares of the company's stock after purchasing an additional 61,564 shares during the period. Great Lakes Advisors LLC's holdings in PepsiCo were worth $96,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Caxton Associates LLP purchased a new position in shares of PepsiCo during the 1st quarter valued at about $251,000. Signature Estate & Investment Advisors LLC grew its position in PepsiCo by 10.3% during the first quarter. Signature Estate & Investment Advisors LLC now owns 4,378 shares of the company's stock valued at $656,000 after acquiring an additional 410 shares during the last quarter. Hamilton Capital LLC raised its stake in shares of PepsiCo by 6.0% during the first quarter. Hamilton Capital LLC now owns 7,123 shares of the company's stock worth $1,068,000 after acquiring an additional 405 shares in the last quarter. Voleon Capital Management LP lifted its holdings in shares of PepsiCo by 34.2% in the 1st quarter. Voleon Capital Management LP now owns 100,275 shares of the company's stock worth $15,035,000 after acquiring an additional 25,576 shares during the last quarter. Finally, Fred Alger Management LLC boosted its stake in shares of PepsiCo by 323.9% in the 1st quarter. Fred Alger Management LLC now owns 44,561 shares of the company's stock valued at $6,681,000 after purchasing an additional 34,049 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PEP shares. Wells Fargo & Company lifted their target price on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Barclays increased their target price on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. JPMorgan Chase & Co. decreased their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PepsiCo currently has an average rating of "Hold" and an average target price of $158.60.

PepsiCo Trading Up 1.0%

PEP stock traded up $1.39 on Tuesday, reaching $143.10. The company's stock had a trading volume of 5,852,496 shares, compared to its average volume of 8,398,995. The firm has a market cap of $195.91 billion, a PE ratio of 26.07, a PEG ratio of 3.58 and a beta of 0.46. The business has a fifty day simple moving average of $143.35 and a two-hundred day simple moving average of $140.74. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $179.43. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the previous year, the firm earned $2.28 EPS. The company's quarterly revenue was up 1.0% compared to the same quarter last year. PepsiCo has set its FY 2025 guidance at 8.038-8.038 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is presently 103.64%.

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.