Headlands Technologies LLC Purchases 41,061 Shares of PepsiCo, Inc. $PEP

Headlands Technologies LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 64.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,637 shares of the company’s stock after purchasing an additional 41,061 shares during the period. PepsiCo accounts for approximately 1.7% of Headlands Technologies LLC’s portfolio, making the stock its 2nd largest position. Headlands Technologies LLC’s holdings in PepsiCo were worth $13,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth about $25,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo during the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares in the last quarter. Frazier Financial Advisors LLC grew its position in shares of PepsiCo by 85.3% in the 2nd quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares during the last quarter. Finally, Binnacle Investments Inc raised its stake in PepsiCo by 33.2% during the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock worth $38,000 after acquiring an additional 71 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research reports. HSBC raised their price objective on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Barclays lifted their price target on PepsiCo from $142.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Rothschild & Co Redburn increased their price objective on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. The Goldman Sachs Group raised their target price on shares of PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Evercore ISI upped their price target on shares of PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $158.35.

PepsiCo Price Performance

PepsiCo stock opened at $150.65 on Friday. The business has a 50 day simple moving average of $147.30 and a 200-day simple moving average of $142.29. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The stock has a market capitalization of $205.99 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 5.20 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same period in the previous year, the company posted $2.31 EPS. PepsiCo’s revenue was up 2.7% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s payout ratio is currently 108.17%.

About PepsiCo

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.