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

Key Points

• Townsquare Capital LLC increased its stake in PepsiCo by 11.3% in the first quarter, owning 104,092 shares valued at approximately $15.6 million.
• PepsiCo's recent earnings report showed an EPS of $2.12, exceeding estimates, with revenue of $22.73 billion, a year-over-year increase of 1%.
• The company has announced a quarterly dividend of $1.4225 per share, providing a 4.0% dividend yield to stockholders of record on September 5th.

Townsquare Capital LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,092 shares of the company's stock after purchasing an additional 10,552 shares during the quarter. Townsquare Capital LLC's holdings in PepsiCo were worth $15,608,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of PepsiCo in the fourth quarter worth about $74,975,000. Phoenix Financial Ltd. boosted its position in PepsiCo by 9.3% during the fourth quarter. Phoenix Financial Ltd. now owns 31,168 shares of the company's stock worth $4,748,000 after acquiring an additional 2,659 shares during the last quarter. Finally, Kelman Lazarov Inc. raised its holdings in PepsiCo by 5.4% in the 4th quarter. Kelman Lazarov Inc. now owns 1,643 shares of the company's stock valued at $250,000 after acquiring an additional 84 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PEP shares. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. Bank of America dropped their price objective 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a research note on Tuesday, June 24th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. Finally, Wells Fargo & Company lifted their price target on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Stock Performance

NASDAQ:PEP opened at $143.92 on Friday. The company has a market capitalization of $197.04 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 3.75 and a beta of 0.45. The firm has a 50-day moving average price of $135.19 and a two-hundred day moving average price of $140.76. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $179.73. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion for 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 company's revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend 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.

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