PepsiCo, Inc. $PEP Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,246,222 shares of the company’s stock after buying an additional 39,311 shares during the period. PepsiCo comprises 0.5% of Mirae Asset Global Investments Co. Ltd.’s portfolio, making the stock its 27th largest holding. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of PepsiCo worth $175,019,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of PepsiCo during the second quarter worth $2,330,594,000. Laurel Wealth Advisors LLC lifted its position in PepsiCo by 14,420.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock worth $513,726,000 after buying an additional 3,863,893 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 9.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after buying an additional 2,556,163 shares during the last quarter. Franklin Resources Inc. grew its holdings in PepsiCo by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after buying an additional 2,541,455 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of PepsiCo by 112.6% during the 2nd quarter. First Trust Advisors LP now owns 4,040,079 shares of the company’s stock worth $533,452,000 after acquiring an additional 2,139,847 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $149.51 on Wednesday. The business’s 50-day simple moving average is $145.71 and its 200 day simple moving average is $145.28. The company has a market cap of $204.43 billion, a P/E ratio of 28.38, a PEG ratio of 4.78 and a beta of 0.42. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $160.15.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were paid a $1.4225 dividend. The ex-dividend date was Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio is 108.17%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PEP. Wall Street Zen lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price objective for the company in a report on Tuesday, October 21st. HSBC lifted their target price on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a report on Friday, October 10th. Exane BNP Paribas upgraded PepsiCo from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Jefferies Financial Group lifted their price objective on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.29.

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.