Illinois Municipal Retirement Fund Acquires 12,428 Shares of PepsiCo, Inc. $PEP

Illinois Municipal Retirement Fund raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 211,083 shares of the company’s stock after purchasing an additional 12,428 shares during the period. Illinois Municipal Retirement Fund’s holdings in PepsiCo were worth $30,295,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PEP. Vanguard Group Inc. increased its holdings in PepsiCo by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock valued at $19,875,205,000 after buying an additional 1,612,652 shares during the period. State Street Corp lifted its holdings in PepsiCo by 1.8% during the third quarter. State Street Corp now owns 59,499,819 shares of the company’s stock worth $8,356,155,000 after buying an additional 1,079,970 shares during the period. Geode Capital Management LLC lifted its holdings in PepsiCo by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company’s stock worth $4,814,835,000 after buying an additional 360,936 shares during the period. Norges Bank bought a new stake in PepsiCo during the 4th quarter valued at $3,018,813,000. Finally, Invesco Ltd. increased its holdings in shares of PepsiCo by 7.6% in the 3rd quarter. Invesco Ltd. now owns 13,617,747 shares of the company’s stock valued at $1,912,476,000 after acquiring an additional 958,701 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

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More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo expanded its autonomous logistics push by deploying driverless trucks to deliver chips and drinks across Texas, Arizona, and Arkansas, signaling potential cost savings and supply-chain efficiency gains. PepsiCo and Gatik launch commercial driverless trucking deployment
• Positive Sentiment: Reports that PepsiCo’s driverless Doritos fleet is already operating at scale and outpacing Tesla’s robotaxi rollout may be viewed as a win for PepsiCo’s innovation image and operational execution. PepsiCo’s driverless Doritos fleet outpaces Tesla’s robotaxis in North Texas
• Positive Sentiment: PepsiCo and Gatik said they launched the largest commercial driverless trucking deployment to date, which could boost investor confidence in PepsiCo’s logistics modernization and long-term margins. PepsiCo and Gatik launch commercial driverless trucking deployment
• Positive Sentiment: PepsiCo launched “House of Treats,” a new experiential beverage platform aimed at premium away-from-home channels, suggesting new growth opportunities beyond core soda and snacks. PEPSI® GLOBAL LAUNCHES PEPSI ‘HOUSE OF TREATS’ A NEW AWAY FROM HOME EXPERIENTIAL BEVERAGE PLATFORM
• Positive Sentiment: Several research-style articles argued PepsiCo remains a strong long-term growth or rebound candidate, which can reinforce bullish sentiment around the stock. Why PepsiCo (PEP) is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts’ average recommendation remains “Hold,” indicating Wall Street is constructive but not aggressively bullish on the name right now. PepsiCo, Inc. (NASDAQ:PEP) Given Average Recommendation of “Hold” by Analysts
• Neutral Sentiment: PepsiCo’s recent stock pullback has prompted valuation-focused commentary, suggesting some investors are weighing whether the shares have become cheaper after the decline. Is It Time To Reconsider PepsiCo (PEP) After The Recent 9% Share Price Pullback

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Royal Bank Of Canada reduced their target price on shares of PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a report on Thursday, April 9th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research report on Wednesday, April 8th. BNP Paribas Exane raised their price target on shares of PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Evercore boosted their price objective on shares of PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $169.58.

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PepsiCo Stock Up 1.1%

Shares of PEP stock opened at $144.32 on Thursday. The stock’s fifty day moving average price is $151.55 and its 200 day moving average price is $152.44. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The company has a market cap of $197.25 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.59 and a beta of 0.35. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. During the same period last year, the business posted $1.48 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.48 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.1%. PepsiCo’s dividend payout ratio (DPR) is 92.94%.

About PepsiCo

(Free Report)

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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