PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Mengis Capital Management Inc.

Key Points

• Mengis Capital Management Inc. increased its stake in PepsiCo by 14.7% during the first quarter, owning 40,203 shares valued at approximately $6.03 million.
• PepsiCo reported a quarterly earnings per share (EPS) of $2.12, surpassing estimates, with revenue growth of 1.0% year-over-year, amounting to $22.73 billion.
• The company declared a quarterly dividend of $1.4225 per share, representing an annual yield of 4.1%, with a current dividend payout ratio of 103.64%.

Mengis Capital Management Inc. increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,203 shares of the company's stock after purchasing an additional 5,142 shares during the period. PepsiCo makes up 1.3% of Mengis Capital Management Inc.'s portfolio, making the stock its 20th largest holding. Mengis Capital Management Inc.'s holdings in PepsiCo were worth $6,028,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Elite Financial Inc. purchased a new position in shares of PepsiCo during the 1st quarter worth about $28,000. Measured Risk Portfolios Inc. purchased a new position in shares of PepsiCo during the 4th quarter worth about $31,000. GKV Capital Management Co. Inc. purchased a new position in shares of PepsiCo during the 4th quarter worth about $38,000. Bridge Generations Wealth Management LLC purchased a new stake in PepsiCo in the 4th quarter valued at about $38,000. Finally, Sunbeam Capital Management LLC purchased a new stake in PepsiCo in the 4th quarter valued at about $47,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 1.0%

Shares of NASDAQ:PEP traded up $1.36 during trading hours on Friday, hitting $139.28. The company's stock had a trading volume of 7,606,047 shares, compared to its average volume of 9,347,638. 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 company has a market capitalization of $190.69 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 3.67 and a beta of 0.45. The firm's fifty day moving average price is $134.63 and its 200 day moving average price is $140.89. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. The firm had revenue of $22.73 billion during 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%. PepsiCo's revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PEP shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Citigroup boosted their price objective on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, July 18th. UBS Group lowered their price objective on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company boosted their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company 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.