K.J. Harrison & Partners Inc Acquires New Shares in PepsiCo, Inc. $PEP

Key Points

• K.J. Harrison & Partners Inc. initiated a new position in PepsiCo during the first quarter, buying 10,661 shares valued at about $1.656 million.
• Institutional ownership in PepsiCo remains high at 73.07%, with several other funds also increasing their stakes in the company.
• PepsiCo continues to show strength as a defensive dividend stock: it recently raised its quarterly dividend to $1.48 per share and also beat earnings and revenue estimates in its latest quarterly report.

K.J. Harrison & Partners Inc purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,661 shares of the company's stock, valued at approximately $1,656,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors increased its holdings in PepsiCo by 3.6% during the 3rd quarter. Captrust Financial Advisors now owns 554,798 shares of the company's stock worth $77,916,000 after purchasing an additional 19,218 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in shares of PepsiCo by 11.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company's stock valued at $59,600,000 after purchasing an additional 42,335 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. boosted its position in shares of PepsiCo by 622.3% during the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company's stock worth $5,110,000 after buying an additional 30,674 shares during the period. Allstate Corp grew its holdings in shares of PepsiCo by 108.1% during the fourth quarter. Allstate Corp now owns 104,723 shares of the company's stock worth $15,030,000 after buying an additional 54,405 shares in the last quarter. Finally, National Pension Service raised its position in PepsiCo by 2.5% in the 4th quarter. National Pension Service now owns 3,143,939 shares of the company's stock valued at $451,218,000 after buying an additional 77,051 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

Key PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: UBS said defensive dividend names like PepsiCo could be ready for a comeback as investors look beyond the tech-led rally, which may help support demand for the stock. Article
• Positive Sentiment: PepsiCo continues to be viewed as a high-quality dividend stock, with recent commentary highlighting it as an attractive dividend aristocrat and a stable defensive holding. Article
• Positive Sentiment: The company also announced a management promotion in Eastern Europe, which signals continued operational execution and regional leadership continuity. Article

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $144.22 on Friday. The stock has a market cap of $197.12 billion, a P/E ratio of 22.64, a P/E/G ratio of 2.91 and a beta of 0.36. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a 12-month low of $132.96 and a 12-month high of $171.48. The business's 50 day moving average is $146.83 and its 200-day moving average is $151.76.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.06. The business had revenue of $19.44 billion during the quarter, compared to analysts' expectations of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm's revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 8.62 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, June 5th. This is a boost from PepsiCo's previous quarterly dividend of $1.42. PepsiCo's payout ratio is presently 92.94%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PepsiCo in a research report on Wednesday, April 8th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $178.00 to $170.00 and set an "overweight" rating on the stock in a research report on Wednesday. Rothschild & Co Redburn increased their target price on shares of PepsiCo from $130.00 to $132.00 in a report on Monday, May 11th. Piper Sandler lowered their price target on shares of PepsiCo from $181.00 to $178.00 and set an "overweight" rating on the stock in a research note on Friday, June 12th. Finally, Barclays cut their price target on shares of PepsiCo from $158.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Thursday. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $165.00.

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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