Miramar Capital LLC Acquires 13,326 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Miramar Capital LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,089 shares of the company’s stock after buying an additional 13,326 shares during the period. PepsiCo comprises approximately 4.9% of Miramar Capital LLC’s portfolio, making the stock its 2nd largest position. Miramar Capital LLC’s holdings in PepsiCo were worth $19,641,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of PepsiCo by 7.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after purchasing an additional 561,465 shares during the period. Stifel Financial Corp lifted its position in shares of PepsiCo by 15.7% in the 4th quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock worth $869,869,000 after purchasing an additional 693,873 shares during the period. Sanders Capital LLC lifted its position in shares of PepsiCo by 2.9% in the 4th quarter. Sanders Capital LLC now owns 4,755,895 shares of the company’s stock worth $807,741,000 after purchasing an additional 135,300 shares during the period. Finally, Flossbach Von Storch AG lifted its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. Morgan Stanley dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research report on Friday, July 19th. TD Cowen dropped their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Bank of America dropped their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Stock Performance

NASDAQ PEP opened at $175.21 on Thursday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm has a market cap of $240.88 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 3.06 and a beta of 0.53. The company has a fifty day moving average price of $173.20 and a 200-day moving average price of $171.68.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.09%. PepsiCo’s payout ratio is 78.66%.

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.