Citizens Financial Group Inc. RI Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Citizens Financial Group Inc. RI raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 143.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 214,196 shares of the company’s stock after buying an additional 126,206 shares during the period. PepsiCo comprises about 0.8% of Citizens Financial Group Inc. RI’s portfolio, making the stock its 26th largest holding. Citizens Financial Group Inc. RI’s holdings in PepsiCo were worth $35,328,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. One Capital Management LLC lifted its holdings in PepsiCo by 51.7% in the second quarter. One Capital Management LLC now owns 9,817 shares of the company’s stock valued at $1,619,000 after acquiring an additional 3,344 shares during the period. Mesirow Financial Investment Management Inc. lifted its stake in shares of PepsiCo by 0.3% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 215,342 shares of the company’s stock valued at $35,525,000 after purchasing an additional 687 shares during the period. Dimensional Fund Advisors LP boosted its holdings in PepsiCo by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock worth $1,221,089,000 after buying an additional 561,465 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in PepsiCo by 7.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock valued at $1,673,632,000 after buying an additional 700,092 shares in the last quarter. Finally, Capital Wealth Planning LLC raised its position in shares of PepsiCo by 11.0% in the second quarter. Capital Wealth Planning LLC now owns 4,595 shares of the company’s stock worth $758,000 after acquiring an additional 456 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEP. Barclays raised their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. TD Cowen reduced their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Bank of America dropped their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Price Performance

PEP stock opened at $177.36 on Monday. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm has a market capitalization of $243.62 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The business has a 50 day simple moving average of $172.37 and a 200-day simple moving average of $171.48.

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

PepsiCo Dividend Announcement

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

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.