Los Angeles Capital Management LLC Acquires 157,280 Shares of PepsiCo, Inc. $PEP

Los Angeles Capital Management LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 125.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 282,934 shares of the company’s stock after purchasing an additional 157,280 shares during the period. Los Angeles Capital Management LLC’s holdings in PepsiCo were worth $41,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of PepsiCo by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock valued at $19,875,205,000 after acquiring an additional 1,612,652 shares in the last quarter. State Street Corp boosted its holdings in shares of PepsiCo by 1.8% during the 3rd quarter. State Street Corp now owns 59,499,819 shares of the company’s stock valued at $8,356,155,000 after acquiring an additional 1,079,970 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PepsiCo by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company’s stock valued at $4,814,835,000 after acquiring an additional 360,936 shares in the last quarter. Norges Bank acquired a new stake in shares of PepsiCo during the 4th quarter valued at $3,018,813,000. Finally, Invesco Ltd. boosted its holdings in shares of PepsiCo by 7.6% during the 3rd quarter. Invesco Ltd. now owns 13,617,747 shares of the company’s stock valued at $1,912,476,000 after acquiring an additional 958,701 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Wednesday, April 8th. UBS Group cut their target price on PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Piper Sandler lifted their target price on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Finally, TD Cowen lifted their target price on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $169.58.

PepsiCo Stock Down 0.2%

Shares of PEP opened at $141.92 on Friday. The company has a market capitalization of $193.97 billion, a PE ratio of 22.28, a PEG ratio of 2.57 and a beta of 0.35. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The stock’s 50-day moving average price is $152.21 and its two-hundred day moving average price is $152.51. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 EPS. On average, analysts anticipate that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.48 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is presently 89.32%.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.