ING Groep NV Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• ING Groep NV increased its holdings in PepsiCo by 16.5% during the first quarter, owning a total of 605,814 shares valued at approximately $90.84 million.
• PepsiCo's stock is currently rated as a "Hold" by analysts, with a consensus price target of $158.73.
• The company recently reported earnings of $2.12 per share, exceeding expectations, and announced a quarterly dividend of $1.4225 per share with a yield of 4.1%.

ING Groep NV grew its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 605,814 shares of the company's stock after purchasing an additional 85,820 shares during the period. ING Groep NV's holdings in PepsiCo were worth $90,836,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Elite Financial Inc. bought a new stake in PepsiCo during the first quarter valued at about $28,000. Measured Risk Portfolios Inc. bought a new stake in PepsiCo during the fourth quarter valued at about $31,000. GKV Capital Management Co. Inc. bought a new stake in PepsiCo during the fourth quarter valued at about $38,000. Bridge Generations Wealth Management LLC bought a new stake in PepsiCo during the fourth quarter valued at about $38,000. Finally, Sunbeam Capital Management LLC acquired a new stake in PepsiCo in the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEP. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a report on Thursday, July 10th. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Morgan Stanley raised their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Bank of America lowered their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $158.73.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $139.28 on Monday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60. The business's 50 day moving average price is $134.63 and its 200-day moving average price is $140.83. The firm has a market capitalization of $190.69 billion, a PE ratio of 25.37, a P/E/G ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly 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. The firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The business's revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.28 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. PepsiCo's payout ratio is 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.

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