Grantham Mayo Van Otterloo & Co. LLC Has $8.46 Million Stock Holdings in PepsiCo, Inc. $PEP

Grantham Mayo Van Otterloo & Co. LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 6.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 60,248 shares of the company’s stock after purchasing an additional 3,485 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in PepsiCo were worth $8,461,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Evolution Wealth Management Inc. purchased a new position in shares of PepsiCo in the second quarter worth approximately $27,000. JCIC Asset Management Inc. purchased a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its stake in PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares during the period. Halbert Hargrove Global Advisors LLC grew its position in PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after purchasing an additional 207 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in PepsiCo during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 1.3%

Shares of NASDAQ PEP opened at $161.53 on Tuesday. The stock has a market cap of $220.75 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.06 and a beta of 0.39. The business has a 50 day simple moving average of $155.39 and a 200 day simple moving average of $149.38. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Monday, February 2nd. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.24 by $0.02. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The company had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo declared that its board has approved a share buyback plan on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be issued a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.5%. PepsiCo’s dividend payout ratio is currently 94.83%.

Analyst Upgrades and Downgrades

PEP has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research report on Tuesday, December 9th. TD Cowen increased their price objective on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. Royal Bank Of Canada raised their price objective on PepsiCo from $156.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Wells Fargo & Company upped their target price on PepsiCo from $154.00 to $165.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Hold” and a consensus target price of $168.50.

About PepsiCo

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.