Evelyn Partners Investment Management LLP Increases Stake in PepsiCo, Inc. $PEP

by · The Markets Daily

Evelyn Partners Investment Management LLP boosted its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 750.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,877 shares of the company’s stock after buying an additional 43,132 shares during the period. Evelyn Partners Investment Management LLP’s holdings in PepsiCo were worth $6,454,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Evelyn Partners Asset Management Ltd purchased a new stake in shares of PepsiCo in the 2nd quarter worth about $1,292,000. Journey Strategic Wealth LLC grew its holdings in PepsiCo by 2.4% in the second quarter. Journey Strategic Wealth LLC now owns 216,128 shares of the company’s stock worth $28,537,000 after purchasing an additional 5,091 shares during the period. Franklin Resources Inc. increased its stake in shares of PepsiCo by 19.5% during the second 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. Graham Capital Wealth Management LLC boosted its position in shares of PepsiCo by 23.7% in the 2nd quarter. Graham Capital Wealth Management LLC now owns 2,268 shares of the company’s stock worth $299,000 after purchasing an additional 435 shares in the last quarter. Finally, Mediolanum International Funds Ltd grew its stake in shares of PepsiCo by 22.0% in the 2nd quarter. Mediolanum International Funds Ltd now owns 211,969 shares of the company’s stock worth $27,776,000 after buying an additional 38,159 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.2%

PepsiCo stock opened at $146.33 on Friday. The business has a 50-day simple moving average of $145.37 and a two-hundred day simple moving average of $140.46. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $165.13. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The company has a market cap of $200.08 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP – Get Free Report) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.31 earnings per share. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on PEP shares. BNP Paribas Exane dropped their target price on PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Barclays raised their price objective on shares of PepsiCo from $140.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 10th. The Goldman Sachs Group raised their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Evercore ISI upped their price objective on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Finally, Bank of America boosted their price target on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Seven 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’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $156.90.

View Our Latest Analysis on PEP

About PepsiCo

(Free Report)

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.

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