Grassi Investment Management lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,000 shares of the company’s stock after selling 2,400 shares during the quarter. Grassi Investment Management’s holdings in PepsiCo were worth $7,038,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PEP. Moneta Group Investment Advisors LLC raised its position in PepsiCo by 95,514.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock worth $7,746,023,000 after acquiring an additional 42,831,405 shares during the period. Morgan Stanley raised its holdings in shares of PepsiCo by 21.0% during the fourth quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock valued at $4,827,240,000 after acquiring an additional 4,629,947 shares during the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 26,126,523 shares of the company’s stock worth $4,751,555,000 after purchasing an additional 489,343 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PepsiCo by 5.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,880,236 shares of the company’s stock worth $3,259,567,000 after buying an additional 872,064 shares in the last quarter. Finally, Norges Bank purchased a new position in PepsiCo in the 4th quarter worth approximately $2,519,707,000. 71.40% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently issued reports on PEP. Royal Bank of Canada upped their price target on PepsiCo from $178.00 to $180.00 in a research report on Friday, July 14th. Deutsche Bank Aktiengesellschaft raised their target price on PepsiCo from $193.00 to $195.00 in a research note on Friday, July 14th. Argus upped their price objective on shares of PepsiCo from $206.00 to $212.00 in a report on Friday, July 14th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Finally, Evercore ISI increased their price target on shares of PepsiCo from $190.00 to $195.00 in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $192.00.
PepsiCo Stock Performance
NASDAQ PEP opened at $179.38 on Tuesday. The company has a market cap of $246.93 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.95 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $160.98 and a 1-year high of $196.88. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.84 and a quick ratio of 0.64. The stock has a 50-day moving average of $182.67 and a two-hundred day moving average of $184.61.
PepsiCo (NASDAQ:PEP – Get Free Report) last released its earnings results on Thursday, July 13th. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.13. The company had revenue of $22.32 billion for the quarter, compared to analyst estimates of $21.73 billion. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.86 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 7.48 EPS for the current year.
PepsiCo Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Thursday, August 31st. PepsiCo’s dividend payout ratio is presently 88.62%.
PepsiCo, Inc manufactures, markets, distributes, and sells 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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