New York Life Investment Management LLC Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

New York Life Investment Management LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,182 shares of the company’s stock after purchasing an additional 2,120 shares during the quarter. New York Life Investment Management LLC’s holdings in PepsiCo were worth $34,665,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its holdings in shares of PepsiCo by 23.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock valued at $1,014,000 after purchasing an additional 1,133 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in PepsiCo by 4.4% during the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock valued at $931,000 after buying an additional 229 shares during the last quarter. 9258 Wealth Management LLC grew its holdings in PepsiCo by 56.0% during the 4th quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock valued at $1,407,000 after buying an additional 2,974 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in PepsiCo by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock worth $1,357,000 after acquiring an additional 3,635 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in shares of PepsiCo by 3.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,767 shares of the company’s stock valued at $4,886,000 after acquiring an additional 833 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PEP shares. Royal Bank of Canada decreased their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Finally, TD Cowen cut their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Price Performance

PEP opened at $177.34 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The business’s fifty day simple moving average is $170.96 and its 200-day simple moving average is $171.13. The company has a market capitalization of $243.59 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.98 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter last year, the firm posted $2.09 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

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.