Aigen Investment Management LP Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Aigen Investment Management LP significantly increased its stake in PepsiCo, Inc. by 839.6% during the first quarter, owning 18,275 shares valued at approximately $2.74 million.
• PepsiCo reported $2.12 earnings per share for the last quarter, surpassing analysts' estimates of $2.03, with a 1.0% increase in revenue year-over-year to $22.73 billion.
• The company has announced a quarterly dividend of $1.4225, representing an annualized payout of $5.69 and a yield of 3.9%, with a dividend payout ratio of 103.64%.

Aigen Investment Management LP lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 839.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,275 shares of the company's stock after acquiring an additional 16,330 shares during the quarter. Aigen Investment Management LP's holdings in PepsiCo were worth $2,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. increased its position in PepsiCo by 3.6% in the first quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company's stock worth $94,598,000 after buying an additional 21,859 shares during the last quarter. Ignite Planners LLC increased its position in PepsiCo by 4.2% in the first quarter. Ignite Planners LLC now owns 3,773 shares of the company's stock worth $566,000 after buying an additional 151 shares during the last quarter. Ossiam increased its position in PepsiCo by 138.9% in the fourth quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after buying an additional 42,793 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in PepsiCo in the first quarter worth $3,633,000. Finally, OMERS ADMINISTRATION Corp boosted its holdings in shares of PepsiCo by 12.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after acquiring an additional 13,461 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP stock traded down $0.34 on Monday, reaching $144.87. 5,772,177 shares of the company were exchanged, compared to its average volume of 9,407,565. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $179.73. The company has a market cap of $198.34 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 3.87 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The business has a 50-day moving average price of $135.98 and a 200 day moving average price of $140.57.

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, beating the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.28 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is presently 103.64%.

Analysts Set New Price Targets

PEP has been the subject of several research analyst reports. Cowen reissued a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. Morgan Stanley boosted their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Barclays upped their price target on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company increased their price target on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and an average target price of $158.73.

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.