New Century Financial Group LLC Has $849,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

New Century Financial Group LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 5,150 shares of the company’s stock after buying an additional 571 shares during the quarter. New Century Financial Group LLC’s holdings in PepsiCo were worth $849,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PEP. 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 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 buying an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PepsiCo by 8.2% in 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 acquiring an additional 561,465 shares during the last quarter. Ameriprise Financial Inc. raised its stake in PepsiCo by 1.1% during the second quarter. Ameriprise Financial Inc. now owns 5,130,517 shares of the company’s stock worth $846,030,000 after acquiring an additional 57,322 shares in the last quarter. Finally, Flossbach Von Storch AG lifted its holdings in shares of PepsiCo by 67.2% in 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 during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.0 %

NASDAQ PEP opened at $170.05 on Tuesday. The stock has a market capitalization of $233.78 billion, a P/E ratio of 24.68, a P/E/G ratio of 2.93 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The business has a 50 day simple moving average of $173.82 and a 200 day simple moving average of $172.12.

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

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were issued a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.19%. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEP. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. JPMorgan Chase & Co. reduced their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Finally, Barclays raised their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $185.20.

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.