Summit Global Investments decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,629 shares of the company’s stock after selling 524 shares during the period. PepsiCo makes up 1.5% of Summit Global Investments’ portfolio, making the stock its 14th largest holding. Summit Global Investments’ holdings in PepsiCo were worth $11,622,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Personal Wealth Partners acquired a new stake in PepsiCo during the second quarter worth $25,000. Krane Funds Advisors LLC acquired a new stake in PepsiCo during the second quarter worth $25,000. Evolution Wealth Advisors LLC acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $27,000. Financial Advantage Inc. acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $28,000. Finally, Mackey Komara & Dankovich LLC boosted its stake in shares of PepsiCo by 199.0% in the 2nd quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares in the last quarter. Institutional investors and hedge funds own 71.46% of the company’s stock.
Several brokerages have recently commented on PEP. BMO Capital Markets restated an “average” rating and issued a $128.00 target price on shares of PepsiCo in a research note on Wednesday, July 10th. UBS Group boosted their target price on shares of PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their target price on shares of PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Cowen boosted their target price on shares of PepsiCo from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Finally, Credit Suisse Group boosted their target price on shares of PepsiCo from $110.00 to $117.00 and gave the company an “underperform” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $131.79.
Shares of PepsiCo stock traded down $0.27 during trading on Wednesday, reaching $135.09. The company’s stock had a trading volume of 3,605,310 shares, compared to its average volume of 4,649,863. The stock has a 50-day moving average price of $133.42 and a two-hundred day moving average price of $128.93. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. PepsiCo, Inc. has a one year low of $104.53 and a one year high of $139.18. The stock has a market capitalization of $188.35 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 3.50 and a beta of 0.56.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The business had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.44 billion. During the same period in the previous year, the business posted $1.61 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.955 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.83%. PepsiCo’s dividend payout ratio is 67.49%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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