Te Ahumairangi Investment Management Ltd Purchases 2,580 Shares of PepsiCo, Inc. $PEP

Te Ahumairangi Investment Management Ltd raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.2% in the second quarter, HoldingsChannel reports. The firm owned 17,584 shares of the company’s stock after buying an additional 2,580 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in PepsiCo were worth $2,322,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the 1st quarter worth about $25,000. Legend Financial Advisors Inc. bought a new position in PepsiCo in the second quarter worth about $29,000. Frazier Financial Advisors LLC boosted its position in PepsiCo by 85.3% during the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after acquiring an additional 122 shares in the last quarter. Investment Research & Advisory Group Inc. raised its position in shares of PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after acquiring an additional 232 shares in the last quarter. Finally, RMG Wealth Management LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $45,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 1.3%

Shares of PEP stock opened at $147.98 on Thursday. The stock has a market capitalization of $202.34 billion, a P/E ratio of 28.13, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The firm’s 50 day moving average is $145.72 and its 200 day moving average is $140.85. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $165.13.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The firm had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same period last year, the business posted $2.31 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEP. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Jefferies Financial Group raised their price objective on PepsiCo from $161.00 to $163.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Wells Fargo & Company raised their price target on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. The Goldman Sachs Group raised their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a report on Tuesday, October 14th. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $156.90.

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.