National Bank of Canada FI Acquires 1,153,906 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• National Bank of Canada FI increased its stake in PepsiCo by 65.5%, acquiring an additional 1,153,906 shares to hold a total of 2,916,461 shares valued at about $437 million.
• PepsiCo reported $2.12 earnings per share for the last quarter, exceeding estimates, with revenue of $22.73 billion, indicating a 1.0% year-over-year increase.
• The firm announced a quarterly dividend of $1.4225 per share, with an annualized yield of 4.0% and a payout ratio of 103.64%.

National Bank of Canada FI boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 65.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,916,461 shares of the company's stock after acquiring an additional 1,153,906 shares during the quarter. National Bank of Canada FI owned 0.21% of PepsiCo worth $437,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Asset Management One Co. Ltd. lifted its stake in shares of PepsiCo by 3.6% in the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ignite Planners LLC grew its holdings in shares of PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after acquiring an additional 151 shares during the period. Ossiam grew its holdings in shares of PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after acquiring an additional 42,793 shares during the period. Graybill Wealth Management LTD. bought a new stake in shares of PepsiCo in the first quarter worth $3,633,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock valued at $18,977,000 after purchasing an additional 13,461 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $143.92 on Friday. The firm has a market cap of $197.04 billion, a PE ratio of 26.21, a P/E/G ratio of 3.75 and a beta of 0.45. 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 stock has a fifty day moving average price of $135.19 and a 200-day moving average price of $140.76. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73.

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. The company had revenue of $22.73 billion during 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 firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $2.28 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. PepsiCo's dividend payout ratio (DPR) is 103.64%.

Analysts Set New Price Targets

Several brokerages have recently commented on PEP. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. Wells Fargo & Company upped their target price on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Finally, Citigroup increased their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $158.73.

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.

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