Havemeyer Place LP Takes $1.24 Million Position in PepsiCo, Inc. $PEP

Havemeyer Place LP bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,607 shares of the company’s stock, valued at approximately $1,235,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in PepsiCo by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock valued at $19,875,205,000 after buying an additional 1,612,652 shares during the period. State Street Corp lifted its stake in PepsiCo by 1.8% in the third quarter. State Street Corp now owns 59,499,819 shares of the company’s stock valued at $8,356,155,000 after buying an additional 1,079,970 shares during the period. Geode Capital Management LLC lifted its stake in PepsiCo by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company’s stock valued at $4,814,835,000 after buying an additional 360,936 shares during the period. Norges Bank acquired a new position in PepsiCo in the fourth quarter valued at about $3,018,813,000. Finally, Invesco Ltd. lifted its stake in PepsiCo by 7.6% in the third quarter. Invesco Ltd. now owns 13,617,747 shares of the company’s stock valued at $1,912,476,000 after buying an additional 958,701 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $141.92 on Monday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48. The business has a 50-day moving average of $152.21 and a two-hundred day moving average of $152.54. The company has a market capitalization of $193.97 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 2.57 and a beta of 0.35. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.48 per share. The ex-dividend date is Friday, June 5th. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. PepsiCo’s dividend payout ratio is 92.94%.

Analyst Ratings Changes

PEP has been the topic of several analyst reports. Rothschild & Co Redburn increased their target price on PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. BNP Paribas Exane increased their price target on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. UBS Group lowered their price target on PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. The Goldman Sachs Group increased their price target on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $169.58.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.