4,110 Shares in PepsiCo, Inc. $PEP Bought by Income Insurance Ltd

Income Insurance Ltd bought a new position in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,110 shares of the company’s stock, valued at approximately $590,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in PepsiCo by 120.7% during the 3rd quarter. AQR Capital Management LLC now owns 5,916,417 shares of the company’s stock worth $830,902,000 after purchasing an additional 3,235,726 shares during the period. Amundi grew its position in PepsiCo by 30.0% during the 3rd quarter. Amundi now owns 8,641,588 shares of the company’s stock worth $1,207,230,000 after purchasing an additional 1,995,362 shares during the period. Vanguard Group Inc. grew its position in PepsiCo by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock worth $19,875,205,000 after purchasing an additional 1,612,652 shares during the period. Caisse de depot et placement du Quebec grew its position in PepsiCo by 151.7% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 2,597,986 shares of the company’s stock worth $364,861,000 after purchasing an additional 1,565,883 shares during the period. Finally, SG Americas Securities LLC grew its position in PepsiCo by 406.0% during the 4th quarter. SG Americas Securities LLC now owns 1,789,959 shares of the company’s stock worth $256,895,000 after purchasing an additional 1,436,216 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.1%

PEP stock opened at $154.62 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48. The stock has a market cap of $211.33 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.83 and a beta of 0.38. The business’s 50-day moving average is $157.25 and its 200 day moving average is $152.50.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same period in the previous year, the firm posted $1.48 EPS. PepsiCo’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo declared that its board has authorized a share buyback program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is presently 89.32%.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced a new partnership in the UAE’s Future Industries Lab to support SMEs and young Emiratis, reinforcing its innovation and local investment strategy. MoIAT expands Future Industries Lab with new PepsiCo partnership supporting SMEs and young Emiratis
• Positive Sentiment: PepsiCo and TalusAg Renewables announced a low-carbon ammonia agreement, an ESG-oriented move that could improve supply-chain sustainability and appeal to investors focused on emissions reduction. PepsiCo and TalusAg Renewables announce low-carbon ammonia attribute agreement to help accelerate fertilizer decarbonization
• Positive Sentiment: Multiple articles highlighted PepsiCo’s continued investment in China and its focus on international growth, product innovation, and cost discipline, which supports the long-term bull case. PepsiCo to ‘continue investing’ in Chinese market

Analysts Set New Price Targets

Several brokerages have weighed in on PEP. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research report on Wednesday, April 8th. 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 research report on Friday, April 17th. TD Cowen increased their price target on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Barclays increased their price target on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on PepsiCo from $169.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. 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 company. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $170.26.

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.