PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Marietta Wealth Management LLC

Marietta Wealth Management LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 25.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,817 shares of the company’s stock after purchasing an additional 9,851 shares during the period. PepsiCo comprises 1.2% of Marietta Wealth Management LLC’s portfolio, making the stock its 26th largest position. Marietta Wealth Management LLC’s holdings in PepsiCo were worth $7,886,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PEP. Norges Bank acquired a new stake in shares of PepsiCo during the fourth quarter worth approximately $2,686,139,000. Flossbach Von Storch AG lifted its position in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares during the last quarter. California Public Employees Retirement System raised its stake in PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of PepsiCo by 17.7% in 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. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PEP shares. BNP Paribas began coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Jefferies Financial Group decreased their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research note on Friday, July 19th. Finally, Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $0.10 during midday trading on Friday, reaching $172.62. 4,614,804 shares of the company traded hands, compared to its average volume of 5,307,452. The company has a market cap of $237.11 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.00 and a beta of 0.52. The stock has a 50-day moving average price of $168.09 and a 200 day moving average price of $170.52. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

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

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.14%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.