PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by North Star Asset Management Inc.

Key Points

• North Star Asset Management Inc. increased its stake in PepsiCo, acquiring an additional 4,833 shares, bringing its total holdings to 65,923 shares valued at approximately $9.89 million.
• PepsiCo reported Q2 earnings of $2.12 per share, exceeding the expected $2.03, and had a revenue of $22.73 billion, slightly up from the previous year.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annualized dividend yield of 3.95% despite a payout ratio of 103.64%.

North Star Asset Management Inc. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,923 shares of the company's stock after purchasing an additional 4,833 shares during the quarter. North Star Asset Management Inc.'s holdings in PepsiCo were worth $9,885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Lokken Investment Group LLC raised its stake in shares of PepsiCo by 0.9% in the fourth 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 raised its holdings in shares of PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after purchasing an additional 71 shares during the last quarter. Pflug Koory LLC lifted its position in shares of PepsiCo by 1.0% during the first quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after purchasing an additional 76 shares in the last quarter. Hoge Financial Services LLC boosted its holdings in PepsiCo by 2.1% during the first quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock worth $545,000 after purchasing an additional 76 shares during the last quarter. Finally, Members Trust Co increased its stake in PepsiCo by 1.3% in the 1st quarter. Members Trust Co now owns 5,941 shares of the company's stock valued at $891,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Morgan Stanley lifted their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Bank of America lowered their price target on shares of 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 target on shares of PepsiCo in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded down $1.03 on Wednesday, reaching $142.86. The company's stock had a trading volume of 9,730,855 shares, compared to its average volume of 8,992,737. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The stock has a market capitalization of $195.59 billion, a P/E ratio of 26.02, a PEG ratio of 3.83 and a beta of 0.45. The stock's 50-day moving average is $134.27 and its two-hundred day moving average is $140.98. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.60.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (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 analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.28 earnings per share. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's payout ratio is currently 103.64%.

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.