PepsiCo, Inc. $PEP is Matrix Asset Advisors Inc. NY's 8th Largest Position

Key Points

• Matrix Asset Advisors increased its PepsiCo stake by 17.9% in the first quarter, making PEP its 8th-largest holding. The fund now owns 241,281 shares valued at about $37.5 million.
• PepsiCo’s latest quarterly results beat expectations, with EPS of $1.61 versus $1.55 expected and revenue of $19.44 billion topping estimates. Revenue rose 8.5% year over year.
• The company also raised its dividend to $1.48 per quarter, which implies a 4.2% yield and extends its 54-year streak of dividend growth. Analyst sentiment remains mixed but generally cautious, with a consensus rating of Hold and an average price target of $166.85.

Matrix Asset Advisors Inc. NY boosted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 17.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 241,281 shares of the company's stock after purchasing an additional 36,613 shares during the quarter. PepsiCo comprises about 3.4% of Matrix Asset Advisors Inc. NY's holdings, making the stock its 8th largest position. Matrix Asset Advisors Inc. NY's holdings in PepsiCo were worth $37,469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of PepsiCo by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company's stock valued at $19,875,205,000 after purchasing an additional 1,612,652 shares during the period. State Street Corp increased its stake in shares of PepsiCo by 1.8% during the 3rd quarter. State Street Corp now owns 59,499,819 shares of the company's stock valued at $8,356,155,000 after acquiring an additional 1,079,970 shares during the last quarter. Auto Owners Insurance Co lifted its holdings in shares of PepsiCo by 14,857.8% during the 4th quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company's stock worth $7,068,777,000 after acquiring an additional 48,923,629 shares during the period. Geode Capital Management LLC grew its holdings in PepsiCo by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company's stock valued at $4,814,835,000 after purchasing an additional 360,936 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in PepsiCo by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company's stock worth $4,031,646,000 after purchasing an additional 295,955 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo News Roundup

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo’s brand and growth efforts are getting fresh visibility, including marketing around “modern soda,” dirty-soda products, and broader consumer engagement. These trends could support beverage demand and help the company defend share in a changing soft-drink market.
• Positive Sentiment: Analyst support remains constructive overall: Citigroup kept a Buy rating even after trimming its price target to $170, implying meaningful upside from current levels. That helps reassure investors that the stock still looks attractively valued despite recent weakness.
• Positive Sentiment: PepsiCo continues to stand out as a diversified dividend stock, with coverage highlighting its 54-year streak of dividend growth. For income-oriented investors, that long track record can provide support ahead of earnings. Article Title

Analysts Set New Price Targets

Several brokerages have recently issued reports on PEP. Royal Bank Of Canada lowered their price objective on shares of PepsiCo from $165.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, April 9th. Sanford C. Bernstein started coverage on PepsiCo in a report on Thursday, June 11th. They issued a "market perform" rating and a $143.00 target price on the stock. Evercore boosted their price target on PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Jefferies Financial Group set a $162.00 price objective on PepsiCo in a report on Thursday. Finally, Wall Street Zen lowered PepsiCo from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $166.85.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $141.39 on Monday. The company has a market cap of $193.25 billion, a P/E ratio of 22.20, a PEG ratio of 2.85 and a beta of 0.35. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. PepsiCo, Inc. has a one year low of $128.11 and a one year high of $171.48. The business's 50-day simple moving average is $148.40 and its 200 day simple moving average is $152.06.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm had revenue of $19.44 billion during the quarter, compared to analysts' expectations of $18.89 billion. During the same quarter in the prior year, the business earned $1.48 EPS. PepsiCo's quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.62 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. This is a positive change from PepsiCo's previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. PepsiCo's payout ratio is presently 92.94%.

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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