Magnetar Financial LLC Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

Magnetar Financial LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,846 shares of the company’s stock, valued at approximately $4,593,000.

A number of other large investors also recently made changes to their positions in PEP. Capital Advisors Ltd. LLC raised its position in shares of PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after buying an additional 139 shares during the period. Norden Group LLC raised its position in PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after purchasing an additional 174,171 shares during the period. Marion Wealth Management raised its position in PepsiCo by 6.3% in the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after purchasing an additional 494 shares during the period. Public Employees Retirement System of Ohio raised its position in PepsiCo by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after purchasing an additional 11,485 shares during the period. Finally, Meyer Handelman Co. raised its position in PepsiCo by 3.9% in the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after purchasing an additional 9,465 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PEP shares. Royal Bank of Canada lowered their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. 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. Barclays lifted their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. decreased their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $185.53.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $171.18 on Monday. The business’s 50 day moving average is $173.51 and its 200-day moving average is $171.87. 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 firm has a market capitalization of $235.34 billion, a PE ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS 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 firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter last year, the company earned $2.09 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently announced 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. This represents a $5.42 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

About PepsiCo

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.