Saturna Capital CORP Has $57.30 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Saturna Capital CORP reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 386,690 shares of the company’s stock after selling 13,700 shares during the quarter. PepsiCo comprises 1.2% of Saturna Capital CORP’s holdings, making the stock its 28th largest holding. Saturna Capital CORP’s holdings in PepsiCo were worth $57,296,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC increased its holdings in PepsiCo by 2.2% in the first quarter. Geode Capital Management LLC now owns 21,779,607 shares of the company’s stock worth $3,072,302,000 after purchasing an additional 477,978 shares in the last quarter. Magellan Asset Management Ltd increased its holdings in PepsiCo by 18.8% in the first quarter. Magellan Asset Management Ltd now owns 16,613,014 shares of the company’s stock worth $2,349,911,000 after purchasing an additional 2,629,100 shares in the last quarter. Morgan Stanley increased its holdings in shares of PepsiCo by 4.7% during the first quarter. Morgan Stanley now owns 13,533,307 shares of the company’s stock valued at $1,914,289,000 after acquiring an additional 605,381 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of PepsiCo by 15.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,356,061 shares of the company’s stock valued at $1,464,865,000 after acquiring an additional 1,364,568 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of PepsiCo by 8.8% during the second quarter. Deutsche Bank AG now owns 9,262,690 shares of the company’s stock valued at $1,372,451,000 after acquiring an additional 751,095 shares in the last quarter. Institutional investors and hedge funds own 70.55% of the company’s stock.

Several equities research analysts have recently commented on PEP shares. Deutsche Bank Aktiengesellschaft boosted their price objective on PepsiCo from $149.00 to $154.00 and gave the company a “hold” rating in a report on Wednesday, July 14th. Guggenheim lifted their target price on PepsiCo from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research cut PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 target price on the stock. in a research report on Monday, August 9th. Wells Fargo & Company lifted their target price on PepsiCo from $147.00 to $160.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 14th. Finally, Truist lifted their target price on PepsiCo from $135.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, July 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $160.77.

In other news, SVP Marie T. Gallagher sold 7,409 shares of the stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $155.70, for a total transaction of $1,153,581.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Shares of NASDAQ:PEP traded up $0.48 during midday trading on Tuesday, reaching $154.09. 116,419 shares of the company traded hands, compared to its average volume of 4,966,542. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 2.47. PepsiCo, Inc. has a 12 month low of $128.32 and a 12 month high of $159.63. The firm has a market capitalization of $212.97 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. The firm’s fifty day moving average price is $155.92 and its two-hundred day moving average price is $148.24.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, July 12th. The company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.19. The business had revenue of $19.22 billion for the quarter, compared to analyst estimates of $17.95 billion. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 EPS. Analysts forecast that PepsiCo, Inc. will post 6.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 3rd will be paid a $1.075 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $4.30 dividend on an annualized basis and a yield of 2.79%. PepsiCo’s dividend payout ratio is currently 77.90%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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