First Long Island Investors LLC Increases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

First Long Island Investors LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 42.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,050 shares of the company’s stock after buying an additional 29,659 shares during the quarter. First Long Island Investors LLC’s holdings in PepsiCo were worth $17,335,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PEP. Norges Bank purchased a new stake in PepsiCo in the 4th quarter valued at about $2,686,139,000. International Assets Investment Management LLC lifted its position in PepsiCo by 9,623.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock worth $519,381,000 after acquiring an additional 3,026,611 shares in the last quarter. Flossbach Von Storch AG lifted its position in PepsiCo by 121.4% during the 4th quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock worth $463,259,000 after acquiring an additional 1,495,586 shares in the last quarter. California Public Employees Retirement System lifted its position in PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEP shares. JPMorgan Chase & Co. upped their target price on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Bank of America cut their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday. Wedbush reissued an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group dropped their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $186.00.

PepsiCo Stock Up 0.2 %

PEP traded up $0.36 during trading on Thursday, reaching $163.95. 10,258,744 shares of the stock traded hands, compared to its average volume of 5,524,253. The stock has a market cap of $225.40 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 2.67 and a beta of 0.52. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The stock’s 50-day simple moving average is $171.12 and its two-hundred day simple moving average is $169.99.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the company earned $2.09 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is 81.50%.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

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.