Summit Global Investments Grows Holdings in PepsiCo, Inc. $PEP

Summit Global Investments raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 128.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 107,514 shares of the company’s stock after acquiring an additional 60,356 shares during the period. PepsiCo makes up 0.8% of Summit Global Investments’ investment portfolio, making the stock its 14th largest position. Summit Global Investments’ holdings in PepsiCo were worth $14,196,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the business. JSF Financial LLC boosted its position in shares of PepsiCo by 3.8% in the second quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after acquiring an additional 69 shares during the last quarter. Dogwood Wealth Management LLC grew its stake in shares of PepsiCo by 15.4% during the 2nd quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock valued at $73,000 after buying an additional 72 shares during the period. Weaver Consulting Group increased its holdings in shares of PepsiCo by 2.9% during the 2nd quarter. Weaver Consulting Group now owns 2,581 shares of the company’s stock worth $341,000 after buying an additional 72 shares during the last quarter. Joel Isaacson & Co. LLC raised its position in shares of PepsiCo by 0.5% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock worth $2,180,000 after buying an additional 74 shares during the period. Finally, Bull Street Advisors LLC boosted its holdings in PepsiCo by 0.4% in the second quarter. Bull Street Advisors LLC now owns 19,902 shares of the company’s stock valued at $2,628,000 after acquiring an additional 74 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

PepsiCo stock opened at $146.33 on Monday. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $165.13. 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 stock has a market cap of $200.08 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 3.56 and a beta of 0.45. The stock has a 50 day moving average of $145.37 and a 200-day moving average of $140.59.

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

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Barclays upped their price target on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Friday, October 10th. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. The Goldman Sachs Group raised their price objective on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Finally, Evercore ISI increased their target price on PepsiCo from $150.00 to $152.00 in a research note on Friday, October 10th. Seven research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus 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.