Brown Brothers Harriman & Co. Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Brown Brothers Harriman & Co. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,803 shares of the company’s stock after purchasing an additional 5,682 shares during the period. Brown Brothers Harriman & Co.’s holdings in PepsiCo were worth $30,809,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PEP. Capital Advisors Ltd. LLC grew its holdings in PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in PepsiCo by 1.1% during the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock worth $2,870,000 after acquiring an additional 180 shares during the period. Norden Group LLC lifted its stake in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares in the last quarter. Marion Wealth Management grew its position in shares of PepsiCo by 6.3% during the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after purchasing an additional 494 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of PepsiCo by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after purchasing an additional 11,485 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PEP. JPMorgan Chase & Co. reduced their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. 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. Barclays raised their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Finally, BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $177.36 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The business’s 50 day simple moving average is $172.37 and its two-hundred day simple moving average is $171.48. The stock has a market capitalization of $243.62 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53.

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

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. PepsiCo’s payout ratio is presently 78.66%.

About PepsiCo

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.