Nuveen LLC Makes New $946.98 Million Investment in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Nuveen LLC acquired over 6.3 million shares of PepsiCo, valued at approximately $947 million, increasing its stake to 0.46% during the first quarter.
• PepsiCo announced a quarterly dividend of $1.4225 to be paid on September 30th, with a current annualized yield of 3.9%.
• The company's latest quarterly earnings report revealed a 1% revenue increase to $22.73 billion and an EPS of $2.12, surpassing analyst expectations.

Nuveen LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,315,712 shares of the company's stock, valued at approximately $946,978,000. Nuveen LLC owned approximately 0.46% of PepsiCo as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Elite Financial Inc. acquired a new stake in shares of PepsiCo in the first quarter valued at $28,000. Measured Risk Portfolios Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at $31,000. GKV Capital Management Co. Inc. acquired a new stake in shares of PepsiCo in the fourth quarter valued at $38,000. Bridge Generations Wealth Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at $38,000. Finally, Sunbeam Capital Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at $47,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Down 0.2%

PepsiCo stock traded down $0.34 during mid-day trading on Monday, hitting $144.87. The company's stock had a trading volume of 5,772,177 shares, compared to its average volume of 9,407,565. The firm's 50 day moving average is $135.98 and its 200 day moving average is $140.57. The company has a market cap of $198.34 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.87 and a beta of 0.45. 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, Inc. has a 52-week low of $127.60 and a 52-week high of $179.73.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company 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 $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio is presently 103.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. UBS Group cut their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report on Friday, April 25th. Citigroup upped their target price on PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday, July 18th. Barclays upped their target price on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Finally, Morgan Stanley upped their target price on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One investment 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. According to data from MarketBeat.com, PepsiCo 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.