iA Global Asset Management Inc. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

iA Global Asset Management Inc. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.3% in the first quarter, Holdings Channel reports. The institutional investor owned 185,512 shares of the company’s stock after acquiring an additional 23,223 shares during the period. iA Global Asset Management Inc.’s holdings in PepsiCo were worth $27,816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Elite Financial Inc. acquired a new position in shares of PepsiCo in the first quarter worth about $28,000. Measured Risk Portfolios Inc. acquired a new stake in PepsiCo during the 4th quarter worth $31,000. GKV Capital Management Co. Inc. acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $38,000. Bridge Generations Wealth Management LLC purchased a new stake in PepsiCo in the 4th quarter valued at $38,000. Finally, Sunbeam Capital Management LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of PepsiCo from $153.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, July 18th. Barclays raised their price objective on shares of PepsiCo from $132.00 to $144.00 and gave the stock an “equal weight” rating in a report on Monday, July 21st. Bank of America lowered their price objective on shares of PepsiCo from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, July 11th. UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.73.

PepsiCo Trading Up 0.2%

PEP stock opened at $139.56 on Tuesday. The business’s 50 day moving average is $134.83 and its 200-day moving average is $140.77. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The firm has a market cap of $191.07 billion, a P/E ratio of 25.42, a P/E/G ratio of 3.71 and a beta of 0.45. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo’s payout ratio is presently 103.64%.

About PepsiCo

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.