PepsiCo, Inc. (NASDAQ:PEP) Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,198,304 shares of the company’s stock after acquiring an additional 143,103 shares during the quarter. Victory Capital Management Inc. owned 0.16% of PepsiCo worth $373,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in PEP. Amplius Wealth Advisors LLC raised its position in shares of PepsiCo by 2.8% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after purchasing an additional 60 shares during the period. Darwin Wealth Management LLC lifted its stake in PepsiCo by 2.7% during the third quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after buying an additional 61 shares in the last quarter. Sugarloaf Wealth Management LLC increased its position in shares of PepsiCo by 2.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after acquiring an additional 61 shares in the last quarter. Capital Investment Counsel Inc raised its holdings in shares of PepsiCo by 1.6% during the fourth quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock valued at $699,000 after acquiring an additional 64 shares during the period. Finally, Beacon Financial Advisory LLC lifted its position in shares of PepsiCo by 3.1% in the 3rd quarter. Beacon Financial Advisory LLC now owns 2,135 shares of the company’s stock valued at $362,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a report on Friday, February 9th. Jefferies Financial Group increased their price objective on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. JPMorgan Chase & Co. raised their price target on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Finally, Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their target price for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Trading Down 0.1 %

NASDAQ:PEP traded down $0.22 during mid-day trading on Wednesday, hitting $175.69. The company had a trading volume of 1,652,600 shares, compared to its average volume of 5,756,081. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The firm has a market cap of $241.54 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.87 and a beta of 0.53. The business’s fifty day moving average is $169.74 and its two-hundred day moving average is $168.16.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. The company had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $1.50 EPS. As a group, research analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $1.355 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.08%. PepsiCo’s dividend payout ratio is currently 76.09%.

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.