PepsiCo, Inc. $PEP Shares Acquired by River Road Asset Management LLC

by · The Markets Daily

River Road Asset Management LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.2% during the second quarter, Holdings Channel.com reports. The fund owned 57,412 shares of the company’s stock after acquiring an additional 1,773 shares during the quarter. River Road Asset Management LLC’s holdings in PepsiCo were worth $7,918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. Norges Bank bought a new stake in shares of PepsiCo in the 2nd quarter worth approximately $2,330,594,000. Nuveen LLC bought a new position in shares of PepsiCo in the first quarter valued at $946,978,000. Laurel Wealth Advisors LLC lifted its position in shares of PepsiCo by 14,420.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after acquiring an additional 3,863,893 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of PepsiCo during the 2nd quarter worth $460,110,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after acquiring an additional 2,556,163 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.5%

PepsiCo stock opened at $149.51 on Tuesday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $163.65. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The stock has a market cap of $204.43 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.56 and a beta of 0.45. The company’s fifty day simple moving average is $146.18 and its 200-day simple moving average is $141.31.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is presently 108.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PEP shares. UBS Group decreased their price target on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Wells Fargo & Company raised their target price on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a report on Friday, October 10th. Bank of America boosted their price target on shares of PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. The Goldman Sachs Group raised their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Loop Capital set a $164.00 target price on shares of PepsiCo in a research note on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $156.90.

Check Out Our Latest Report on PEP

PepsiCo Profile

(Free Report)

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.

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