Goldman Sachs Group Inc. Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Goldman Sachs Group Inc. increased its stake in PepsiCo by 6.9% during the first quarter, now owning approximately 0.67% of the company, valued at $1.39 billion.
• PepsiCo reported earnings of $2.12 per share for the latest quarter, exceeding analyst expectations, with revenue also up year-over-year at $22.73 billion.
• The company declared a quarterly dividend of $1.4225 per share, indicating a 4.1% dividend yield and a dividend payout ratio of 103.64%.

Goldman Sachs Group Inc. increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,248,104 shares of the company's stock after buying an additional 598,012 shares during the period. Goldman Sachs Group Inc. owned about 0.67% of PepsiCo worth $1,386,661,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Elite Financial Inc. purchased a new stake in shares of PepsiCo during the first quarter worth about $28,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo during the fourth quarter worth about $31,000. GKV Capital Management Co. Inc. purchased a new stake in shares of PepsiCo during the fourth quarter worth about $38,000. Bridge Generations Wealth Management LLC purchased a new stake in shares of PepsiCo during the fourth quarter worth about $38,000. Finally, Sunbeam Capital Management LLC purchased a new stake in PepsiCo in the 4th quarter valued at about $47,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 1.0%

NASDAQ PEP traded up $1.35 on Wednesday, reaching $140.80. The company had a trading volume of 6,746,011 shares, compared to its average volume of 9,650,565. The business has a 50 day moving average of $134.99 and a two-hundred day moving average of $140.76. 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 fifty-two week low of $127.60 and a fifty-two week high of $179.73. The firm has a market cap of $192.77 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 3.72 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted 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 business had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the prior year, the business earned $2.28 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 4.0%. PepsiCo's dividend payout ratio is currently 103.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PEP shares. Cowen reiterated a "hold" rating on shares of PepsiCo in a research report on Thursday, July 17th. Barclays lifted their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Citigroup increased their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. UBS Group dropped their price objective on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Wells Fargo & Company raised their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $158.73.

PepsiCo Company Profile

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.