PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Dravo Bay LLC

Dravo Bay LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,979 shares of the company’s stock after acquiring an additional 64 shares during the quarter. Dravo Bay LLC’s holdings in PepsiCo were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in PepsiCo by 9,623.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after purchasing an additional 3,026,611 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of PepsiCo in the 3rd quarter worth about $329,179,000. Flossbach Von Storch AG boosted its position in shares of PepsiCo by 121.4% in the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after buying an additional 1,495,586 shares during the period. California Public Employees Retirement System increased its position in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in PepsiCo by 68.0% in the fourth quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock worth $496,382,000 after purchasing an additional 1,183,371 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.3 %

PepsiCo stock traded down $0.61 during midday trading on Wednesday, hitting $177.41. 3,266,694 shares of the stock were exchanged, compared to its average volume of 5,666,490. The firm has a market cap of $243.90 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.87 and a beta of 0.52. The company has a 50 day moving average price of $170.49 and a two-hundred day moving average price of $168.70. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the previous year, the business earned $1.50 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is currently 76.09%.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Barclays lifted their target price on PepsiCo from $184.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo 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.