Headlands Technologies LLC Acquires New Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Headlands Technologies LLC acquired a new position in PepsiCo, purchasing 63,576 shares valued at approximately $9.53 million, representing 1.1% of their portfolio.
• PepsiCo reported earnings of $2.12 per share for the last quarter, exceeding expectations, with revenue reaching $22.73 billion, up 1% year-over-year.
• The company declared a quarterly dividend of $1.4225 per share, with an annualized dividend yield of 4.0% and a payout ratio of 103.64%.

Headlands Technologies LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 63,576 shares of the company's stock, valued at approximately $9,533,000. PepsiCo comprises approximately 1.1% of Headlands Technologies LLC's portfolio, making the stock its 15th biggest holding.

Other hedge funds have also modified their holdings of the company. Elite Financial Inc. acquired a new position in shares of PepsiCo during the first quarter worth about $28,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo during the fourth quarter valued at about $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of PepsiCo during the fourth quarter valued at approximately $38,000. Bridge Generations Wealth Management LLC bought a new position in PepsiCo during the fourth quarter valued at about $38,000. Finally, Sunbeam Capital Management LLC bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $47,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.9%

NASDAQ PEP traded up $1.29 on Friday, reaching $145.21. The company had a trading volume of 5,313,480 shares, compared to its average volume of 9,539,993. 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 stock has a market capitalization of $198.80 billion, a P/E ratio of 26.45, a P/E/G ratio of 3.83 and a beta of 0.45. The company's fifty day moving average is $135.71 and its 200 day moving average is $140.70. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. The company 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 firm's revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm earned $2.28 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio is currently 103.64%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PEP shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Citigroup upped their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Wells Fargo & Company upped their target price on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.