PepsiCo, Inc. (NASDAQ:PEP) Stake Boosted by Summit Global Investments

Summit Global Investments grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2,088.1% in the 4th quarter, Holdings Channel reports. The firm owned 98,638 shares of the company’s stock after acquiring an additional 94,130 shares during the quarter. PepsiCo comprises approximately 1.1% of Summit Global Investments’ holdings, making the stock its 18th biggest position. Summit Global Investments’ holdings in PepsiCo were worth $16,753,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PEP. Amplius Wealth Advisors LLC boosted its position in shares of PepsiCo by 2.8% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after acquiring an additional 60 shares in the last quarter. Darwin Wealth Management LLC lifted its stake in PepsiCo by 2.7% in the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after purchasing an additional 61 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its stake in PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after purchasing an additional 61 shares during the last quarter. Capital Investment Counsel Inc lifted its stake in PepsiCo by 1.6% in the 4th quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock valued at $699,000 after purchasing an additional 64 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its stake in PepsiCo by 3.1% in the 3rd quarter. Beacon Financial Advisory LLC now owns 2,135 shares of the company’s stock valued at $362,000 after purchasing an additional 65 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Up 0.3 %

NASDAQ:PEP traded up $0.54 during midday trading on Thursday, reaching $175.69. 2,215,227 shares of the stock traded hands, compared to its average volume of 5,746,258. The company has a fifty day moving average of $169.87 and a 200 day moving average of $168.21. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The stock has a market capitalization of $241.54 billion, a P/E ratio of 26.43, a PEG ratio of 2.87 and a beta of 0.52. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the prior year, the business earned $1.50 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEP shares. Barclays increased their price objective on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group raised their price target on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Wedbush reaffirmed an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo 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.