Illinois Municipal Retirement Fund Buys 12,428 Shares of PepsiCo, Inc. $PEP

Illinois Municipal Retirement Fund raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,083 shares of the company’s stock after purchasing an additional 12,428 shares during the period. Illinois Municipal Retirement Fund’s holdings in PepsiCo were worth $30,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. MH & Associates Securities Management Corp ADV purchased a new stake in PepsiCo during the 4th quarter valued at $29,000. Imprint Wealth LLC purchased a new position in PepsiCo during the third quarter worth $31,000. Strategic Advocates LLC bought a new position in PepsiCo during the third quarter valued at $33,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in PepsiCo during the fourth quarter valued at $33,000. Finally, Evolution Wealth Management Inc. raised its stake in shares of PepsiCo by 47.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 232 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PEP shares. UBS Group dropped their price target on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Evercore raised their price objective on shares of PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. The Goldman Sachs Group boosted their target price on PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Deutsche Bank Aktiengesellschaft increased their price target on PepsiCo from $169.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, BNP Paribas Exane raised their price target on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $169.58.

PepsiCo News Roundup

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo expanded its autonomous logistics push by deploying driverless trucks to deliver chips and drinks across Texas, Arizona, and Arkansas, signaling potential cost savings and supply-chain efficiency gains. PepsiCo and Gatik launch commercial driverless trucking deployment
• Positive Sentiment: Reports that PepsiCo’s driverless Doritos fleet is already operating at scale and outpacing Tesla’s robotaxi rollout may be viewed as a win for PepsiCo’s innovation image and operational execution. PepsiCo’s driverless Doritos fleet outpaces Tesla’s robotaxis in North Texas
• Positive Sentiment: PepsiCo and Gatik said they launched the largest commercial driverless trucking deployment to date, which could boost investor confidence in PepsiCo’s logistics modernization and long-term margins. PepsiCo and Gatik launch commercial driverless trucking deployment
• Positive Sentiment: PepsiCo launched “House of Treats,” a new experiential beverage platform aimed at premium away-from-home channels, suggesting new growth opportunities beyond core soda and snacks. PEPSI® GLOBAL LAUNCHES PEPSI ‘HOUSE OF TREATS’ A NEW AWAY FROM HOME EXPERIENTIAL BEVERAGE PLATFORM
• Positive Sentiment: Several research-style articles argued PepsiCo remains a strong long-term growth or rebound candidate, which can reinforce bullish sentiment around the stock. Why PepsiCo (PEP) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts’ average recommendation remains “Hold,” indicating Wall Street is constructive but not aggressively bullish on the name right now. PepsiCo, Inc. (NASDAQ:PEP) Given Average Recommendation of “Hold” by Analysts
• Neutral Sentiment: PepsiCo’s recent stock pullback has prompted valuation-focused commentary, suggesting some investors are weighing whether the shares have become cheaper after the decline. Is It Time To Reconsider PepsiCo (PEP) After The Recent 9% Share Price Pullback

PepsiCo Trading Up 1.1%

PEP stock opened at $144.32 on Thursday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The firm’s 50-day moving average is $151.55 and its 200 day moving average is $152.44. The company has a market capitalization of $197.25 billion, a PE ratio of 22.66, a P/E/G ratio of 2.59 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 released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 EPS. On average, research analysts anticipate 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 paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 4.1%. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s payout ratio is currently 92.94%.

PepsiCo Company 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.