Tevis Investment Management Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Tevis Investment Management raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,110 shares of the company’s stock after purchasing an additional 810 shares during the quarter. Tevis Investment Management’s holdings in PepsiCo were worth $1,244,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of PepsiCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after acquiring an additional 578,083 shares in the last quarter. Norges Bank purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $2,686,139,000. California Public Employees Retirement System raised its position in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings 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 valued at $1,430,250,000 after purchasing an additional 1,105,127 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $164.93 on Friday. The business has a fifty day simple moving average of $173.37 and a 200-day simple moving average of $170.30. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38. The company has a market cap of $226.74 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.73 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the prior year, the company posted $1.50 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. PepsiCo’s dividend payout ratio is presently 81.50%.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEP. Wedbush restated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. BNP Paribas started coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Monday, March 18th. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Barclays dropped their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $186.38.

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.