Creekside Partners acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,564 shares of the company’s stock, valued at approximately $588,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after buying an additional 905,468 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $1,673,632,000 after acquiring an additional 700,092 shares during the last quarter. Dimensional Fund Advisors LP grew its position in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after acquiring an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. raised its position in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after purchasing an additional 57,322 shares during the period. Finally, Flossbach Von Storch AG lifted its stake 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 valued at $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.
PepsiCo Stock Up 0.8 %
Shares of PEP stock opened at $171.38 on Wednesday. The stock’s fifty day moving average price is $173.92 and its 200 day moving average price is $172.17. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The company has a market cap of $235.61 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.
PepsiCo Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.16%. PepsiCo’s payout ratio is 78.66%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. Barclays boosted their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. TD Cowen cut their price objective 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. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Bank of America cut their price target on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday. Finally, Royal Bank of Canada decreased their price objective on shares of 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.40.
Get Our Latest Report on PepsiCo
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.
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