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

Key Points

• Scotia Capital Inc. increased its holdings in PepsiCo by 11.1%, owning approximately $116.4 million worth of shares after acquiring an additional 77,434 shares in the 1st quarter.
• PepsiCo's recent quarterly earnings exceeded expectations, reporting $2.12 earnings per share on revenues of $22.73 billion, leading to a 1.0% increase in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $1.4225 per share, resulting in an annualized dividend of $5.69, which corresponds to a 4.1% dividend yield.

Scotia Capital Inc. raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 776,167 shares of the company's stock after acquiring an additional 77,434 shares during the period. Scotia Capital Inc. owned approximately 0.06% of PepsiCo worth $116,379,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PEP. GAMMA Investing LLC raised its stake in PepsiCo by 19,106.5% during the 1st quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock valued at $688,017,000 after acquiring an additional 4,564,723 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock worth $527,034,000 after buying an additional 1,809,391 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of PepsiCo in the 4th quarter worth $221,297,000. Northern Trust Corp raised its stake in shares of PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock worth $2,494,300,000 after buying an additional 1,306,818 shares in the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of PepsiCo by 292.9% in the 4th quarter. APG Asset Management N.V. now owns 1,559,081 shares of the company's stock worth $228,946,000 after buying an additional 1,162,315 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Bank of America lowered their price target on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Finally, Barclays lifted their price target on PepsiCo from $132.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. 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 MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $158.73.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $139.28 on Friday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The business's 50-day moving average price is $134.63 and its two-hundred day moving average price is $140.87. The company has a market capitalization of $190.69 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 3.71 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 (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.1%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.