PepsiCo, Inc. (NASDAQ:PEP) Holdings Boosted by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 16.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,977 shares of the company’s stock after buying an additional 565 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in PepsiCo were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in PepsiCo by 5.5% during the fourth quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock worth $18,326,710,000 after purchasing an additional 5,454,097 shares in the last quarter. State Street Corp raised its holdings in PepsiCo by 1.3% during the fourth quarter. State Street Corp now owns 58,904,562 shares of the company’s stock worth $10,293,622,000 after purchasing an additional 763,595 shares in the last quarter. Geode Capital Management LLC raised its holdings in PepsiCo by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 23,137,438 shares of the company’s stock worth $4,008,329,000 after purchasing an additional 585,018 shares in the last quarter. Capital Research Global Investors raised its holdings in PepsiCo by 9.6% during the fourth quarter. Capital Research Global Investors now owns 18,698,968 shares of the company’s stock worth $3,248,196,000 after purchasing an additional 1,634,702 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,837,497 shares of the company’s stock worth $2,403,712,000 after purchasing an additional 93,169 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP traded down $2.22 during trading hours on Friday, reaching $173.65. 130,561 shares of the company traded hands, compared to its average volume of 4,064,957. The stock’s fifty day moving average is $167.60 and its 200 day moving average is $169.49. The stock has a market cap of $239.62 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 3.47 and a beta of 0.55. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 1-year low of $149.48 and a 1-year high of $177.69.

PepsiCo (NASDAQ:PEP – Get Rating) last posted its earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.13. The business had revenue of $20.23 billion for the quarter, compared to analysts’ expectations of $19.51 billion. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 6.65 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a yield of 2.65%. PepsiCo’s dividend payout ratio is 69.28%.

Insiders Place Their Bets

In other news, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $171.18, for a total transaction of $300,078.54. Following the transaction, the chief executive officer now directly owns 70,892 shares in the company, valued at $12,135,292.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the transaction, the chief executive officer now directly owns 70,892 shares in the company, valued at $12,135,292.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eugene Willemsen sold 4,560 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $175.61, for a total transaction of $800,781.60. Following the completion of the transaction, the chief executive officer now owns 8,277 shares in the company, valued at $1,453,523.97. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,896 shares of company stock valued at $2,602,868. 0.12% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on PEP. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. Credit Suisse Group lifted their price target on shares of PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. Guggenheim lifted their price target on shares of PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 27th. UBS Group decreased their price target on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Finally, Wells Fargo & Company decreased their price target on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

PepsiCo Profile

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.