TCW Group Inc. Acquires 15,116 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• TCW Group Inc. increased its holdings in PepsiCo, Inc. by 3.2%, acquiring an additional 15,116 shares, bringing their total to 485,712 shares valued at approximately $72.83 million.
• PepsiCo recently reported $2.12 earnings per share (EPS), exceeding analysts' expectations of $2.03, with revenue of $22.73 billion for the quarter.
• Following recent analyst updates, PepsiCo's average rating is "Hold", with a consensus target price of $158.73, as various firms adjusted their price targets.

TCW Group Inc. lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 485,712 shares of the company's stock after acquiring an additional 15,116 shares during the period. TCW Group Inc.'s holdings in PepsiCo were worth $72,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the 4th quarter valued at about $28,000. Elite Financial Inc. acquired a new position in PepsiCo during the 1st quarter valued at about $28,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo during the 4th quarter valued at about $30,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo during the 4th quarter valued at about $31,000. Finally, Summit Securities Group LLC acquired a new position in PepsiCo during the 4th quarter valued at about $33,000. 73.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating for the company in a research note on Thursday, July 10th. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Morgan Stanley boosted their target price on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, Bank of America cut their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $158.73.

PepsiCo Trading Down 0.7%

NASDAQ:PEP opened at $143.45 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $196.39 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 3.82 and a beta of 0.45. The firm's 50 day moving average is $133.58 and its 200 day moving average is $140.99. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.97%. PepsiCo's payout ratio is currently 103.64%.

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.

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