Summit Global Investments Has $7.07 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Summit Global Investments raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1,271.3% in the first quarter, Holdings Channel.com reports. The firm owned 47,158 shares of the company’s stock after acquiring an additional 43,719 shares during the period. Summit Global Investments’ holdings in PepsiCo were worth $7,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Ossiam raised its stake in PepsiCo by 138.9% during the fourth quarter. Ossiam now owns 73,604 shares of the company’s stock worth $11,192,000 after acquiring an additional 42,793 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of PepsiCo by 12.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company’s stock worth $18,977,000 after purchasing an additional 13,461 shares in the last quarter. Hutner Capital Management Inc. lifted its holdings in PepsiCo by 14.6% during the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company’s stock valued at $8,178,000 after purchasing an additional 6,865 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in PepsiCo in the fourth quarter valued at about $47,899,000. Finally, WCM Investment Management LLC grew its stake in PepsiCo by 147.6% during the fourth quarter. WCM Investment Management LLC now owns 14,692 shares of the company’s stock worth $2,229,000 after buying an additional 8,759 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PEP shares. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. HSBC lowered their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Morgan Stanley reduced their price target on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Wall Street Zen cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, Bank of America reduced their target price on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $160.69.

PepsiCo Stock Up 1.0%

NASDAQ:PEP opened at $131.92 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The stock’s fifty day simple moving average is $138.26 and its 200-day simple moving average is $147.49. The firm has a market capitalization of $180.87 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a dividend of $1.4225 per share. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.31%. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is currently 83.68%.

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.