Lighthouse Investment Partners LLC Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

Lighthouse Investment Partners LLC bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, Holdings Channel reports. The fund bought 25,000 shares of the company’s stock, valued at approximately $4,123,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Capital Advisors Ltd. LLC grew its holdings in PepsiCo by 3.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares in the last quarter. Norden Group LLC lifted its position in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares during the last quarter. Marion Wealth Management increased its holdings 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 buying an additional 494 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in PepsiCo by 1.6% during 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 buying an additional 11,485 shares in the last quarter. Finally, Meyer Handelman Co. lifted its holdings in PepsiCo by 3.9% during the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after buying an additional 9,465 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Barclays boosted 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. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $185.53.

PepsiCo Trading Up 0.2 %

NASDAQ:PEP opened at $170.00 on Friday. The stock has a market cap of $233.71 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 2.97 and a beta of 0.53. The business has a fifty day moving average of $173.76 and a 200-day moving average of $171.95. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

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

PepsiCo Announces Dividend

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

PepsiCo Company 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.