PepsiCo, Inc. $PEP Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,739,318 shares of the company’s stock after acquiring an additional 27,083 shares during the quarter. Ameriprise Financial Inc. owned about 0.35% of PepsiCo worth $665,609,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of PepsiCo by 1.3% in the second quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock valued at $18,081,034,000 after purchasing an additional 1,761,785 shares during the period. State Street Corp increased its position in shares of PepsiCo by 1.6% during the second quarter. State Street Corp now owns 58,419,849 shares of the company’s stock worth $7,713,757,000 after acquiring an additional 920,045 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after acquiring an additional 2,556,163 shares in the last quarter. Norges Bank purchased a new position in PepsiCo in the second quarter valued at about $2,330,594,000. Finally, Franklin Resources Inc. grew its stake in PepsiCo by 19.5% during the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after purchasing an additional 2,541,455 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $159.88 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The firm’s 50-day moving average price is $156.71 and its two-hundred day moving average price is $149.71. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48. The stock has a market capitalization of $218.50 billion, a P/E ratio of 26.65, a P/E/G ratio of 3.07 and a beta of 0.39.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The business had revenue of $29.34 billion for the quarter, compared to analysts’ expectations of $28.96 billion. During the same period in the prior year, the firm earned $1.96 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo declared that its board has initiated a share repurchase plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, March 6th. PepsiCo’s dividend payout ratio (DPR) is presently 94.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group increased their target price on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. Barclays lifted their price target on shares of PepsiCo from $148.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. increased their price objective on shares of PepsiCo from $164.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Evercore boosted their target price on shares of PepsiCo from $152.00 to $165.00 in a research report on Wednesday, February 4th. Finally, Rothschild & Co Redburn upped their target price on shares of PepsiCo from $120.00 to $130.00 and gave the company a “sell” rating in a research note on Tuesday, February 10th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $169.00.

PepsiCo Profile

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.