Kimelman & Baird LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,177 shares of the company’s stock, valued at approximately $524,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its position in PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after purchasing an additional 905,468 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PepsiCo by 7.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PepsiCo by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares in the last quarter. Ameriprise Financial Inc. grew its position in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock valued at $846,030,000 after acquiring an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG raised its stake in shares of PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.
PepsiCo Stock Up 0.2 %
NASDAQ:PEP opened at $170.00 on Monday. The company has a market cap of $233.51 billion, a PE ratio of 24.67, a P/E/G ratio of 2.93 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. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The company’s 50 day moving average is $173.77 and its two-hundred day moving average is $172.08.
PepsiCo Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.19%. PepsiCo’s dividend payout ratio is presently 78.66%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Finally, 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. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.53.
Read Our Latest Analysis on PepsiCo
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.
Featured Articles
- Five stocks we like better than PepsiCo
- EV Stocks and How to Profit from Them
- 3 Bargain Stocks Under $20 With Major Growth Potential
- Stock Sentiment Analysis: How it Works
- Top 5 ETFs to Own Now and Into 2025
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- Watch These 3 Former Short-Squeeze Stocks for a Big Rally
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.