Cowa LLC Raises Stock Position in PepsiCo, Inc. $PEP

Cowa LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 104.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,628 shares of the company’s stock after buying an additional 2,878 shares during the period. Cowa LLC’s holdings in PepsiCo were worth $744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEP. Nuveen LLC purchased a new position in PepsiCo in the first quarter valued at about $946,978,000. Kingstone Capital Partners Texas LLC acquired a new stake in PepsiCo during the second quarter valued at approximately $460,110,000. Franklin Resources Inc. lifted its holdings in PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock worth $2,056,797,000 after buying an additional 2,541,455 shares during the last quarter. Acadian Asset Management LLC lifted its stake in PepsiCo by 175.7% during the second quarter. Acadian Asset Management LLC now owns 2,969,635 shares of the company’s stock worth $392,076,000 after purchasing an additional 1,892,469 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in PepsiCo by 1.4% in the first quarter. Vanguard Group Inc. now owns 135,174,252 shares of the company’s stock worth $20,268,027,000 after acquiring an additional 1,802,748 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.2%

PepsiCo stock opened at $146.33 on Friday. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $165.13. The firm’s fifty day simple moving average is $145.37 and its 200-day simple moving average is $140.46. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company has a market capitalization of $200.08 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the previous year, the company posted $2.31 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio is presently 108.17%.

Wall Street Analyst Weigh In

PEP has been the subject of a number of analyst reports. BNP Paribas Exane reduced their target price on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. UBS Group lowered their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research report on Thursday, September 11th. Piper Sandler dropped their target price on shares of PepsiCo from $162.00 to $161.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank Of Canada decreased their price target on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research report on Monday, September 15th. Finally, HSBC lifted their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $156.90.

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.