PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. increased its holdings in PepsiCo, Inc. by 14.3%, owning 185,512 shares valued at approximately $27.82 million as of the latest quarter.
• PepsiCo's earnings report indicated earnings of $2.12 per share, exceeding analyst estimates, while the firm's revenue reached $22.73 billion.
• PepsiCo has announced a quarterly dividend of $1.4225, translating to an annualized yield of 4.1% despite a payout ratio of 103.64%.

iA Global Asset Management Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 14.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 185,512 shares of the company's stock after acquiring an additional 23,223 shares during the period. iA Global Asset Management Inc.'s holdings in PepsiCo were worth $27,816,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Elite Financial Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo during the 4th quarter worth $31,000. GKV Capital Management Co. Inc. acquired a new stake in shares of PepsiCo during the 4th quarter worth $38,000. Bridge Generations Wealth Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth $38,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth $47,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEP. Barclays upped their price target on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Bank of America decreased their price objective on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Morgan Stanley upped their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, Cowen reissued a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $158.73.

PepsiCo Stock Performance

NASDAQ PEP traded down $0.11 during trading hours on Tuesday, reaching $139.45. The company's stock had a trading volume of 5,533,502 shares, compared to its average volume of 9,759,724. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The business has a 50-day simple moving average of $134.83 and a 200 day simple moving average of $140.77. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73. The stock has a market cap of $190.92 billion, a PE ratio of 25.40, a PEG ratio of 3.72 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter last year, the company posted $2.28 earnings per share. PepsiCo's revenue was up 1.0% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

About PepsiCo

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.