Pettee Investors Inc. Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Pettee Investors Inc. raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,587 shares of the company’s stock after buying an additional 360 shares during the quarter. Pettee Investors Inc.’s holdings in PepsiCo were worth $1,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Asset Management One Co. Ltd. increased its holdings in PepsiCo by 3.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 630,906 shares of the company’s stock valued at $94,598,000 after purchasing an additional 21,859 shares during the period. Ossiam grew its holdings in shares of PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company’s stock worth $11,192,000 after acquiring an additional 42,793 shares during the period. OMERS ADMINISTRATION Corp grew its stake in shares of PepsiCo by 12.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock worth $18,977,000 after buying an additional 13,461 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of PepsiCo in the 1st quarter worth approximately $3,633,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in PepsiCo by 2.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 270,938 shares of the company’s stock valued at $40,624,000 after acquiring an additional 6,112 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on PEP. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PepsiCo in a research report on Thursday. Barclays decreased their target price on PepsiCo from $135.00 to $132.00 and set an “equal weight” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of PepsiCo in a research note on Thursday. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Finally, UBS Group cut their price objective on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.00.

PepsiCo Price Performance

NASDAQ PEP opened at $135.35 on Thursday. The firm’s fifty day simple moving average is $131.69 and its two-hundred day simple moving average is $141.29. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The firm has a market capitalization of $185.58 billion, a P/E ratio of 19.90, a P/E/G ratio of 4.18 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.08. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. Analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.20%. PepsiCo’s payout ratio is currently 83.68%.

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.