PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Summit Global Investments

Summit Global Investments grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2,088.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,638 shares of the company’s stock after acquiring an additional 94,130 shares during the quarter. PepsiCo accounts for approximately 1.1% of Summit Global Investments’ holdings, making the stock its 18th largest holding. Summit Global Investments’ holdings in PepsiCo were worth $16,753,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in PepsiCo by 9,623.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after acquiring an additional 3,026,611 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $329,179,000. Flossbach Von Storch AG increased its position in shares of PepsiCo by 121.4% in the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after buying an additional 1,495,586 shares in the last quarter. California Public Employees Retirement System increased its position in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of PepsiCo by 68.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock worth $496,382,000 after purchasing an additional 1,183,371 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Barclays boosted their price objective on PepsiCo from $184.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.42.

PepsiCo Trading Up 0.3 %

PEP traded up $0.54 during mid-day trading on Thursday, hitting $175.69. 2,215,227 shares of the stock were exchanged, compared to its average volume of 5,746,258. The firm’s fifty day moving average is $169.87 and its two-hundred day moving average is $168.21. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The company has a market cap of $241.54 billion, a PE ratio of 26.43, a PEG ratio of 2.87 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the prior year, the business earned $1.50 EPS. PepsiCo’s revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is presently 76.09%.

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.