Thompson Investment Management Inc. Acquires 36,549 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Thompson Investment Management Inc. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 109.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,942 shares of the company’s stock after purchasing an additional 36,549 shares during the quarter. PepsiCo makes up about 1.6% of Thompson Investment Management Inc.’s holdings, making the stock its 12th biggest position. Thompson Investment Management Inc.’s holdings in PepsiCo were worth $10,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Omega Wealth Management LLC raised its stake in shares of PepsiCo by 2.1% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 17,747 shares of the company’s stock valued at $2,661,000 after acquiring an additional 370 shares in the last quarter. Investment Partners Asset Management Inc. grew its holdings in PepsiCo by 35.4% during the first quarter. Investment Partners Asset Management Inc. now owns 5,385 shares of the company’s stock valued at $807,000 after purchasing an additional 1,407 shares during the last quarter. Trinity Financial Advisors LLC raised its position in shares of PepsiCo by 34.2% in the first quarter. Trinity Financial Advisors LLC now owns 3,523 shares of the company’s stock valued at $528,000 after purchasing an additional 898 shares during the period. Laurel Wealth Advisors LLC lifted its stake in shares of PepsiCo by 1.5% in the first quarter. Laurel Wealth Advisors LLC now owns 26,795 shares of the company’s stock worth $4,018,000 after buying an additional 406 shares during the last quarter. Finally, Virginia Wealth Management Group Inc. boosted its holdings in shares of PepsiCo by 0.4% during the 1st quarter. Virginia Wealth Management Group Inc. now owns 23,018 shares of the company’s stock worth $3,451,000 after buying an additional 82 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PEP shares. Citigroup decreased their price target on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. Bank of America cut their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. JPMorgan Chase & Co. upped their price target on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $163.00 price objective on shares of PepsiCo in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned 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 price target of $160.69.

PepsiCo Price Performance

NASDAQ:PEP opened at $131.83 on Wednesday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a 50-day moving average of $135.37 and a 200-day moving average of $145.74. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The company has a market capitalization of $180.75 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 3.09 and a beta of 0.45.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $1.4225 dividend. This represents a $5.69 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. 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.