Creekside Partners Purchases Shares of 3,564 PepsiCo, Inc. (NASDAQ:PEP)

Creekside Partners acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) 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 (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The company’s revenue was up .8% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

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.

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.