Acadian Asset Management LLC Purchases 38,607 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Acadian Asset Management LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% in the 2nd quarter, Holdings Channel reports. The fund owned 799,532 shares of the company’s stock after acquiring an additional 38,607 shares during the quarter. Acadian Asset Management LLC’s holdings in PepsiCo were worth $131,845,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Financial Concepts LLC boosted its stake in PepsiCo by 8,835.5% during the second quarter. Strategic Financial Concepts LLC now owns 116,608 shares of the company’s stock worth $192,000 after acquiring an additional 115,303 shares in the last quarter. Umpqua Bank lifted its holdings in shares of PepsiCo by 4.2% during the second quarter. Umpqua Bank now owns 12,337 shares of the company’s stock valued at $2,035,000 after purchasing an additional 499 shares during the last quarter. Norden Group LLC grew its stake in shares of PepsiCo by 2.3% in the 2nd quarter. Norden Group LLC now owns 7,920 shares of the company’s stock worth $1,306,000 after buying an additional 180 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its position in PepsiCo by 0.6% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 111,190 shares of the company’s stock valued at $18,339,000 after buying an additional 672 shares in the last quarter. Finally, Stonebrook Private Inc. raised its stake in PepsiCo by 4.6% during the second quarter. Stonebrook Private Inc. now owns 2,161 shares of the company’s stock valued at $356,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP opened at $177.34 on Friday. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The company has a market cap of $243.59 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.98 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company’s 50 day moving average is $170.96 and its 200 day moving average is $171.15.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.06%. PepsiCo’s payout ratio is currently 78.66%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PEP shares. Jefferies Financial Group reduced their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. 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 report on Wednesday, July 3rd. Finally, Royal Bank of Canada cut their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.53.

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.