Greenwood Capital Associates LLC Buys 9,175 Shares of PepsiCo, Inc. $PEP

Greenwood Capital Associates LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 498.4% in the first quarter, HoldingsChannel reports. The fund owned 11,016 shares of the company’s stock after acquiring an additional 9,175 shares during the period. Greenwood Capital Associates LLC’s holdings in PepsiCo were worth $1,711,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of PepsiCo by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock valued at $19,875,205,000 after buying an additional 1,612,652 shares during the period. State Street Corp lifted its stake in shares of PepsiCo by 1.8% during the third quarter. State Street Corp now owns 59,499,819 shares of the company’s stock valued at $8,356,155,000 after acquiring an additional 1,079,970 shares during the period. Auto Owners Insurance Co boosted its holdings in PepsiCo by 14,857.8% in the fourth quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company’s stock valued at $7,068,777,000 after acquiring an additional 48,923,629 shares during the last quarter. Geode Capital Management LLC increased its position in PepsiCo by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company’s stock worth $4,814,835,000 after purchasing an additional 360,936 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in PepsiCo by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company’s stock worth $4,031,646,000 after purchasing an additional 295,955 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Investors are betting PepsiCo’s turnaround is holding, with recent commentary pointing to better North American snack demand and improving volume trends after price resets and product innovation. PepsiCo Rises Ahead of Q2 Results as Investors Bet Turnaround Gains Are Holding
• Positive Sentiment: Several market previews suggest PepsiCo could post higher second-quarter sales, which would support the idea that its restructuring and growth initiatives are beginning to work. PepsiCo Projected to Post Higher 2Q Sales Despite Rocky Turnaround — Earnings Preview
• Positive Sentiment: Analysts and commentators continue to describe PEP as attractive ahead of earnings, with implied post-earnings volatility indicating traders expect a meaningful move if results surprise. PepsiCo Stock Could Swing 4.16% After Earnings on Thursday
• Positive Sentiment: BNP Paribas Exane still rates PepsiCo “outperform” even after trimming its price target to $183, implying upside from current levels. Benzinga report on BNP Paribas Exane target cut
• Neutral Sentiment: PepsiCo unveiled a whole grain oat-based shake and is trying again with Quaker drinks in the U.S., signaling ongoing product innovation but with unclear near-term financial impact. PepsiCo unveils whole grain oat-based shake
• Negative Sentiment: Some analysts have recently trimmed price targets, and PepsiCo remains under pressure to prove its turnaround can offset softer U.S. sales and broader consumer-staples caution. PepsiCo (PEP) Price Target Trimmed at JP Morgan. Here is Why

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 9th. Sanford C. Bernstein set a $142.00 price objective on shares of PepsiCo and gave the company a “market perform” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $178.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, July 1st. The Goldman Sachs Group raised their price target on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, Evercore upped their price objective on PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $164.40.

PepsiCo Price Performance

PEP opened at $142.51 on Thursday. PepsiCo, Inc. has a 12 month low of $132.96 and a 12 month high of $171.48. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The stock has a market cap of $194.78 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.92 and a beta of 0.36. The company has a fifty day simple moving average of $146.14 and a 200 day simple moving average of $151.63.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. During the same quarter in the previous year, the business posted $1.48 EPS. PepsiCo’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.62 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 5th were given a $1.48 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 4.2%. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is presently 92.94%.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.