Summit Global Investments Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Summit Global Investments increased its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1,271.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,158 shares of the company's stock after purchasing an additional 43,719 shares during the period. Summit Global Investments' holdings in PepsiCo were worth $7,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after buying an additional 1,376,133 shares during the period. Geode Capital Management LLC raised its position in PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after purchasing an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Norges Bank purchased a new position in PepsiCo during the fourth quarter valued at approximately $2,729,565,000. Finally, Northern Trust Corp grew its stake in PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $0.30 on Friday, reaching $131.62. The company's stock had a trading volume of 12,988,871 shares, compared to its average volume of 6,558,275. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The company has a market capitalization of $180.46 billion, a P/E ratio of 18.94, a PEG ratio of 3.09 and a beta of 0.47. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a 50-day moving average price of $137.98 and a 200-day moving average price of $147.27.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The business's revenue was down 1.8% on a year-over-year basis. Analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is 83.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of PepsiCo from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their target price for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. upped their target price on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research report on Monday, April 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $160.69.

PepsiCo 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.