PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Diversified LLC

Diversified LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.1% in the 2nd quarter, Holdings Channel reports. The firm owned 5,689 shares of the company’s stock after buying an additional 522 shares during the period. Diversified LLC’s holdings in PepsiCo were worth $938,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after buying an additional 578,083 shares in the last quarter. Norges Bank acquired a new position in PepsiCo during the fourth quarter valued at approximately $2,686,139,000. Franklin Resources Inc. raised its position in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after purchasing an additional 1,105,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in PepsiCo by 6.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock valued at $1,128,413,000 after buying an additional 375,963 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP stock traded up $0.13 during mid-day trading on Friday, hitting $175.87. 5,040,153 shares of the stock were exchanged, compared to its average volume of 5,466,141. The stock has a market capitalization of $241.57 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 2.98 and a beta of 0.52. The stock’s fifty day simple moving average is $169.18 and its two-hundred day simple moving average is $170.69. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. PepsiCo’s revenue was up .8% on a year-over-year basis. On average, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.08%. PepsiCo’s dividend payout ratio is currently 78.66%.

Analysts Set New Price Targets

A number of research analysts have commented on PEP shares. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Tuesday. BNP Paribas began coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Royal Bank of Canada lowered their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Bank of America decreased their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, TD Cowen decreased their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $185.53.

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.