USS Investment Management Ltd grew its position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 229,257 shares of the company’s stock after buying an additional 3,752 shares during the period. USS Investment Management Ltd’s holdings in PepsiCo were worth $35,598,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in PepsiCo in the fourth quarter worth about $26,000. Swiss RE Ltd. acquired a new position in PepsiCo during the 4th quarter valued at about $28,000. MH & Associates Securities Management Corp ADV bought a new position in shares of PepsiCo in the 4th quarter valued at about $29,000. Imprint Wealth LLC bought a new position in shares of PepsiCo in the 3rd quarter valued at about $31,000. Finally, Networth Advisors LLC grew its position in shares of PepsiCo by 2,857.1% during the 1st quarter. Networth Advisors LLC now owns 207 shares of the company’s stock worth $32,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on PEP. Bank of America cut their price objective on shares of PepsiCo from $173.00 to $164.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. The Goldman Sachs Group upped their target price on shares of PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Piper Sandler cut their price target on PepsiCo from $181.00 to $178.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. TD Cowen decreased their price objective on PepsiCo from $165.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, June 12th. Finally, HSBC upped their price objective on PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $166.80.
PepsiCo Stock Down 2.4%
Shares of NASDAQ:PEP opened at $135.40 on Wednesday. The company has a 50 day moving average price of $147.56 and a two-hundred day moving average price of $151.91. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The company has a market capitalization of $185.06 billion, a PE ratio of 21.26, a PEG ratio of 2.80 and a beta of 0.35. PepsiCo, Inc. has a 52 week low of $132.47 and a 52 week high of $171.48.
PepsiCo (NASDAQ:PEP – Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same period last year, the firm posted $1.48 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts forecast that PepsiCo, Inc. will post 8.62 earnings per share for the current year.
PepsiCo Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were issued a dividend of $1.48 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 4.4%. The ex-dividend date was Friday, June 5th. PepsiCo’s dividend payout ratio is presently 92.94%.
PepsiCo News Roundup
Here are the key news stories impacting PepsiCo this week:
- Positive Sentiment: Investor sentiment was lifted by bullish commentary from 24/7 Wall St., which argued PepsiCo could have more than 20% upside based on a price target above current levels and called the stock a buy. Pepsi Price Prediction: The Case for 20%+ Upside
- Positive Sentiment: Unusual options activity pointed to rising trader interest, with investors buying a large volume of PepsiCo call options, often interpreted as a bullish signal. Investors Buy Large Volume of PepsiCo Call Options (NASDAQ:PEP)
- Positive Sentiment: PepsiCo expanded its manufacturing footprint in India by commissioning a second flavor plant in Ujjain, a long-term growth investment that could support supply and regional demand. PepsiCo India opens ₹1,266 cr flavour manufacturing facility in Ujjain
- Neutral Sentiment: Analysts are heading into PepsiCo’s July 9 earnings release expecting higher Q2 earnings and revenue, but this is still a forecast rather than a reported result. PepsiCo Likely To Report Higher Q2 Earnings
- Neutral Sentiment: PepsiCo is also facing a trademark dispute involving “Rise” and “Mtn Dew Rise” at the U.S. Supreme Court, which adds legal uncertainty but is not yet a confirmed financial hit. US Supreme Court takes up Pepsi ‘Mtn Dew Rise’ trademark dispute
- Negative Sentiment: Competition in the soda market remains intense, with Coca-Cola highlighted as having a Freestyle-machine advantage and launching an exclusive new soda flavor at Wingstop, underscoring pressure on PepsiCo’s beverage business. Coca-Cola launches exclusive soda flavor at fast-food giant
PepsiCo Profile
PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.
Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.
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