PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC significantly increased its position in PepsiCo by 312.3% during Q1, owning 14,547 shares valued at approximately $2.18 million.
• PepsiCo's stock price has recently dropped by 1.3%; however, the company reported $2.12 EPS for its last quarter, exceeding expectations.
• PepsiCo has declared a quarterly dividend of $1.4225, reflecting an annualized yield of 4.02%, with a payout ratio of 103.64%.

Morningstar Investment Management LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 312.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,547 shares of the company's stock after acquiring an additional 11,019 shares during the quarter. Morningstar Investment Management LLC's holdings in PepsiCo were worth $2,181,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PEP. TCTC Holdings LLC boosted its position in shares of PepsiCo by 5.2% in the 1st quarter. TCTC Holdings LLC now owns 202,808 shares of the company's stock valued at $30,409,000 after purchasing an additional 9,996 shares during the period. Kirtland Hills Capital Management LLC boosted its position in shares of PepsiCo by 44.7% in the 1st quarter. Kirtland Hills Capital Management LLC now owns 8,552 shares of the company's stock valued at $1,222,000 after purchasing an additional 2,642 shares during the period. Ramirez Asset Management Inc. boosted its position in shares of PepsiCo by 5.5% in the 1st quarter. Ramirez Asset Management Inc. now owns 7,139 shares of the company's stock valued at $1,070,000 after purchasing an additional 370 shares during the period. Pinnacle West Asset Management Inc. boosted its position in shares of PepsiCo by 2.1% in the 1st quarter. Pinnacle West Asset Management Inc. now owns 5,955 shares of the company's stock valued at $893,000 after purchasing an additional 125 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of PepsiCo in the 1st quarter valued at about $380,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PEP shares. Royal Bank Of Canada reissued a "sector perform" rating and issued a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. Cowen reaffirmed a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research note on Thursday, July 17th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Price Performance

NASDAQ PEP traded up $1.57 during mid-day trading on Friday, hitting $139.49. The stock had a trading volume of 4,286,696 shares, compared to its average volume of 8,571,899. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The company has a market cap of $190.98 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 3.81 and a beta of 0.45. The company has a 50 day simple moving average of $134.43 and a 200 day simple moving average of $140.93. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period last year, the business posted $2.28 EPS. PepsiCo's quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is presently 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.