PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Wallace Capital Management Inc.

Wallace Capital Management Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.7% in the second quarter, Holdings Channel reports. The institutional investor owned 2,231 shares of the company’s stock after buying an additional 100 shares during the quarter. Wallace Capital Management Inc.’s holdings in PepsiCo were worth $368,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PEP. Legal & General Group Plc boosted its holdings in shares of PepsiCo by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after acquiring an additional 700,092 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after purchasing an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of PepsiCo by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after purchasing an additional 57,322 shares during the last quarter. Finally, Flossbach Von Storch AG grew its position in PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.2 %

Shares of PEP opened at $170.00 on Monday. The stock’s 50-day moving average price is $173.77 and its 200 day moving average price is $172.08. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The firm has a market capitalization of $233.51 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period last year, the business earned $2.09 earnings per share. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.19%. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PEP shares. BNP Paribas assumed coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. TD Cowen dropped their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a report on Friday, September 20th. Finally, Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $185.53.

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.