BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 98,550 Shares of PepsiCo, Inc. (NASDAQ:PEP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 59.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,251 shares of the company’s stock after acquiring an additional 98,550 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PepsiCo were worth $43,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Valued Wealth Advisors LLC boosted its holdings in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. POM Investment Strategies LLC grew its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in shares of PepsiCo during the 2nd quarter valued at $30,000. Fortis Group Advisors LLC boosted its position in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $35,000. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEP has been the topic of several analyst reports. Barclays increased their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. BNP Paribas initiated coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Finally, Royal Bank of Canada decreased their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $185.53.

PepsiCo Trading Up 0.5 %

Shares of PepsiCo stock opened at $172.11 on Tuesday. The business’s 50 day moving average is $173.68 and its 200-day moving average is $171.93. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The stock has a market cap of $236.61 billion, a P/E ratio of 24.98, a P/E/G ratio of 3.06 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 released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the firm posted $2.09 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share 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 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 3.15%. PepsiCo’s dividend payout ratio (DPR) is currently 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.