HighTower Advisors LLC Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• HighTower Advisors LLC increased its stake in PepsiCo, Inc. by 8.9%, owning a total of 2,728,649 shares valued at approximately $409 million.
• PepsiCo recently reported a quarterly earnings per share of $2.12, surpassing expectations and showing a revenue increase of 1.0% year-over-year.
• The company declared a $1.4225 quarterly dividend for stockholders of record on September 5th, representing an annualized yield of 3.9%.

HighTower Advisors LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,728,649 shares of the company's stock after purchasing an additional 222,375 shares during the quarter. PepsiCo makes up 0.6% of HighTower Advisors LLC's holdings, making the stock its 28th largest position. HighTower Advisors LLC owned 0.20% of PepsiCo worth $409,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elite Financial Inc. purchased a new stake in PepsiCo in the first quarter valued at about $28,000. Measured Risk Portfolios Inc. purchased a new position in shares of PepsiCo in the fourth quarter worth about $31,000. GKV Capital Management Co. Inc. purchased a new position in shares of PepsiCo in the fourth quarter worth about $38,000. Bridge Generations Wealth Management LLC purchased a new position in shares of PepsiCo in the fourth quarter worth about $38,000. Finally, Sunbeam Capital Management LLC purchased a new position in shares of PepsiCo in the fourth quarter worth about $47,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.2%

Shares of PEP opened at $144.87 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73. The stock's 50 day moving average is $135.98 and its two-hundred day moving average is $140.57. The firm has a market cap of $198.34 billion, a P/E ratio of 26.39, a PEG ratio of 3.87 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period last year, the company earned $2.28 earnings per share. PepsiCo's quarterly revenue was up 1.0% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal 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 paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. PepsiCo's payout ratio is currently 103.64%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. UBS Group reduced their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company raised their price objective on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Finally, Barclays raised their price objective on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of "Hold" and a consensus 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.

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