Te Ahumairangi Investment Management Ltd Acquires 2,580 Shares of PepsiCo, Inc. $PEP

Te Ahumairangi Investment Management Ltd raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.2% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 17,584 shares of the company’s stock after purchasing an additional 2,580 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in PepsiCo were worth $2,322,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Claris Advisors LLC MO grew its position in PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after buying an additional 308 shares during the period. Foster Group Inc. grew its position in shares of PepsiCo by 4.6% during the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock valued at $683,000 after acquiring an additional 229 shares during the period. Merit Financial Group LLC raised its position in shares of PepsiCo by 46.4% in the second quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares during the period. Fulton Bank N.A. boosted its holdings in PepsiCo by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock worth $3,342,000 after buying an additional 620 shares during the period. Finally, Naples Global Advisors LLC raised its holdings in PepsiCo by 2.3% during the 2nd quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock valued at $3,469,000 after acquiring an additional 592 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research report on Tuesday, October 21st. Citigroup decreased their price target on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Bank of America raised their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. HSBC upped their target price on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $156.90.

PepsiCo Stock Performance

PepsiCo stock opened at $147.98 on Thursday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $165.13. The firm’s fifty day moving average price is $145.72 and its 200-day moving average price is $140.85. The stock has a market cap of $202.34 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share 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 company had revenue of $23.94 billion during the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the previous year, the company posted $2.31 EPS. PepsiCo’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

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.