Mirae Asset Global Investments Co. Ltd. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,037,786 shares of the company's stock after purchasing an additional 124,386 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of PepsiCo worth $154,099,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in PEP. TAGStone Capital Inc. grew its stake in PepsiCo by 2.8% during the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after buying an additional 70 shares during the last quarter. Lokken Investment Group LLC grew its position in PepsiCo by 0.9% in the 4th quarter. Lokken Investment Group LLC now owns 7,699 shares of the company's stock worth $1,171,000 after purchasing an additional 70 shares during the last quarter. Legacy Financial Group LLC grew its position in PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock worth $227,000 after purchasing an additional 71 shares during the last quarter. Atlantic Private Wealth LLC grew its position in PepsiCo by 37.5% in the 4th quarter. Atlantic Private Wealth LLC now owns 275 shares of the company's stock worth $42,000 after purchasing an additional 75 shares during the last quarter. Finally, Pflug Koory LLC grew its holdings in PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock worth $1,162,000 after buying an additional 76 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo Stock Up 2.2%
Shares of NASDAQ:PEP traded up $2.82 on Friday, reaching $131.04. The company had a trading volume of 26,530,795 shares, compared to its average volume of 6,977,394. The stock has a market capitalization of $179.67 billion, a P/E ratio of 19.27, a P/E/G ratio of 3.68 and a beta of 0.45. The stock has a 50-day moving average price of $131.83 and a 200 day moving average price of $143.02. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $180.91. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the firm posted $1.61 earnings per share. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.34%. PepsiCo's payout ratio is currently 83.68%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research report on Thursday, April 24th. Bank of America reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and reduced their target price for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. Finally, Citigroup reduced their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. One investment 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, the stock currently has a consensus rating of "Hold" and an average target price of $159.75.
Read Our Latest Report on PEP
About PepsiCo
(
Free Report)
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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