PepsiCo, Inc. $PEP Holdings Lifted by Capitolis Liquid Global Markets LLC

Key Points

• Capitolis Liquid Global Markets LLC modestly increased its stake in PepsiCo by 1.0% (an additional 7,000 shares), bringing its holding to 682,000 shares valued at about $95.78 million.
• PepsiCo's Board authorized a $10.0 billion share buyback (up to ~4.7% of shares) and declared a quarterly dividend of $1.4225 (annualized $5.69, yield 3.6%, payout ratio 94.83%).
• Analysts maintain a consensus rating of Hold with an average price target of $169, though several firms have recently raised targets into the $165–$181 range (8 Buys, 11 Holds, 1 Sell).

Capitolis Liquid Global Markets LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 682,000 shares of the company's stock after purchasing an additional 7,000 shares during the quarter. PepsiCo comprises approximately 0.8% of Capitolis Liquid Global Markets LLC's investment portfolio, making the stock its 29th biggest holding. Capitolis Liquid Global Markets LLC's holdings in PepsiCo were worth $95,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Evolution Wealth Management Inc. bought a new position in shares of PepsiCo in the second quarter worth $27,000. JCIC Asset Management Inc. acquired a new position in shares of PepsiCo in the 3rd quarter worth approximately $27,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of PepsiCo by 107.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company's stock valued at $31,000 after buying an additional 121 shares in the last quarter. Imprint Wealth LLC acquired a new stake in shares of PepsiCo during the third quarter worth $31,000. Finally, Halbert Hargrove Global Advisors LLC raised its holdings in PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company's stock worth $33,000 after buying an additional 207 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of PepsiCo from $162.00 to $165.00 and gave the stock a "hold" rating in a research report on Friday, February 20th. Weiss Ratings restated a "hold (c)" rating on shares of PepsiCo in a report on Friday, January 9th. Morgan Stanley raised their target price on PepsiCo from $165.00 to $180.00 and gave the company an "equal weight" rating in a report on Wednesday, February 4th. BNP Paribas Exane reissued an "outperform" rating on shares of PepsiCo in a research report on Wednesday, February 4th. Finally, Piper Sandler lifted their price objective on PepsiCo from $172.00 to $181.00 and gave the stock an "overweight" rating in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of "Hold" and an average price target of $169.00.

PepsiCo Trading Up 0.6%

PEP stock opened at $159.88 on Friday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The business's 50 day moving average is $156.71 and its 200-day moving average is $149.69. The firm has a market cap of $218.50 billion, a P/E ratio of 26.65, a P/E/G ratio of 3.07 and a beta of 0.39.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Monday, February 2nd. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The business had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.96 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. PepsiCo's quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, March 6th. PepsiCo's payout ratio is currently 94.83%.

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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