Diamond Hill Capital Management Inc. Purchases 155,889 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Diamond Hill Capital Management Inc. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,279,090 shares of the company’s stock after purchasing an additional 155,889 shares during the quarter. PepsiCo accounts for 2.3% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Diamond Hill Capital Management Inc.’s holdings in PepsiCo were worth $540,820,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PEP. Capital Advisors Ltd. LLC raised its position in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the last quarter. V Square Quantitative Management LLC raised its position in PepsiCo by 1.1% in the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after buying an additional 180 shares during the last quarter. Norden Group LLC raised its position in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares during the last quarter. Marion Wealth Management raised its position in PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after buying an additional 494 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in PepsiCo by 1.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after buying an additional 11,485 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEP. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Morgan Stanley cut their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. TD Cowen cut their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Bank of America dropped their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Performance

NASDAQ:PEP opened at $177.36 on Friday. The business’s 50-day moving average price is $172.37 and its two-hundred day moving average price is $171.45. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The stock has a market cap of $243.62 billion, a P/E ratio of 25.74, a PEG ratio of 3.03 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $2.09 EPS. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.06%. PepsiCo’s dividend payout ratio is 78.66%.

PepsiCo Company 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.