PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 14.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,876,354 shares of the company’s stock after acquiring an additional 492,888 shares during the quarter. Bank of Montreal Can owned 0.28% of PepsiCo worth $676,036,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PEP. Valued Wealth Advisors LLC grew its stake in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the second quarter worth $30,000. Fortis Group Advisors LLC raised its holdings in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in PepsiCo during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Jefferies Financial Group dropped their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $185.53.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $171.18 on Monday. The firm’s 50 day moving average is $173.51 and its two-hundred day moving average is $171.87. The firm has a market capitalization of $235.34 billion, a P/E ratio of 24.84, a PEG ratio of 3.06 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 52 week low of $155.83 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.17%. PepsiCo’s payout ratio is 78.66%.

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.