Summit Global Investments Has $2.85 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Summit Global Investments boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 87.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,296 shares of the company’s stock after purchasing an additional 8,068 shares during the period. Summit Global Investments’ holdings in PepsiCo were worth $2,853,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Capital Advisors Ltd. LLC lifted its stake in shares of PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after buying an additional 139 shares during the last quarter. V Square Quantitative Management LLC raised its stake in PepsiCo by 1.1% in the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock worth $2,870,000 after purchasing an additional 180 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in PepsiCo by 4.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,002,267 shares of the company’s stock worth $175,407,000 after purchasing an additional 43,296 shares in the last quarter. Norden Group LLC raised 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. Finally, Fulton Breakefield Broenniman LLC raised its stake in PepsiCo by 21.5% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 93,099 shares of the company’s stock worth $15,812,000 after purchasing an additional 16,494 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PEP. Morgan Stanley dropped their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company decreased their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada decreased their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” 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 for the company in a research report on Wednesday, July 3rd. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $185.53.

PepsiCo Price Performance

PEP traded up $2.03 during trading on Tuesday, reaching $175.85. 5,327,154 shares of the company traded hands, compared to its average volume of 5,478,772. The company has a market cap of $241.54 billion, a P/E ratio of 25.52, a PEG ratio of 3.00 and a beta of 0.52. The firm has a fifty day simple moving average of $168.46 and a 200 day simple moving average of $170.59. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.08%. PepsiCo’s dividend payout ratio (DPR) is 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.