PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 729,862 shares of the company’s stock after buying an additional 35,414 shares during the quarter. Jennison Associates LLC’s holdings in PepsiCo were worth $108,144,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Paragon Wealth Strategies LLC purchased a new stake in PepsiCo during the 2nd quarter valued at approximately $30,000. Cowen Prime Advisors LLC purchased a new stake in PepsiCo during the 2nd quarter valued at approximately $34,000. Financial Insights Inc. purchased a new stake in PepsiCo during the 2nd quarter valued at approximately $36,000. Twin Lakes Capital Management LLC purchased a new stake in PepsiCo during the 2nd quarter valued at approximately $48,000. Finally, Baldrige Asset Management LLC purchased a new stake in PepsiCo during the 2nd quarter valued at approximately $55,000. 70.55% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:PEP opened at $154.20 on Monday. The business’s fifty day moving average price is $155.87 and its two-hundred day moving average price is $148.84. The stock has a market cap of $213.12 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.70 and a current ratio of 0.91. PepsiCo, Inc. has a one year low of $128.32 and a one year high of $159.63.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Monday, July 12th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.19. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The business had revenue of $19.22 billion for the quarter, compared to analysts’ expectations of $17.95 billion. During the same quarter last year, the firm earned $1.32 earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. As a group, equities research analysts predict that PepsiCo, Inc. will post 6.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be given a $1.075 dividend. This represents a $4.30 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, September 2nd. PepsiCo’s dividend payout ratio (DPR) is currently 77.90%.

Several research firms have commented on PEP. Zacks Investment Research downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 price objective for the company. in a research note on Monday, August 9th. Citigroup increased their target price on PepsiCo from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14th. Truist increased their target price on PepsiCo from $135.00 to $160.00 and gave the stock a “hold” rating in a research note on Wednesday, July 14th. Royal Bank of Canada increased their target price on PepsiCo from $153.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 14th. Finally, Wells Fargo & Company increased their target price on PepsiCo from $147.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $161.08.

In related news, SVP Marie T. Gallagher sold 7,409 shares of the stock in a transaction on Monday, July 19th. The stock was sold at an average price of $155.70, for a total value of $1,153,581.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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