M&G Plc Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

M&G Plc boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the second quarter, Holdings Channel.com reports. The firm owned 426,269 shares of the company’s stock after buying an additional 14,724 shares during the period. M&G Plc’s holdings in PepsiCo were worth $70,334,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after purchasing an additional 578,083 shares during the period. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $2,686,139,000. California Public Employees Retirement System grew its position in shares of PepsiCo by 17.9% in 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 buying an additional 1,470,064 shares during the last quarter. 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 buying an additional 1,345,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of PepsiCo by 15.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after buying an additional 1,105,127 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.6 %

Shares of PEP stock traded up $0.95 during mid-day trading on Tuesday, hitting $172.37. The company’s stock had a trading volume of 3,894,017 shares, compared to its average volume of 5,516,716. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $184.86. The business has a 50-day moving average price of $168.09 and a 200 day moving average price of $170.42. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The stock has a market cap of $236.97 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.98 and a beta of 0.52.

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

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. BNP Paribas started coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Finally, Barclays boosted their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.53.

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.