Renaissance Technologies LLC Acquires New Shares in PepsiCo, Inc. (NASDAQ:PEP)

Renaissance Technologies LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 493,062 shares of the company's stock, valued at approximately $74,975,000.

Several other large investors also recently made changes to their positions in the stock. Tcfg Wealth Management LLC lifted its holdings in shares of PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock valued at $295,000 after purchasing an additional 66 shares in the last quarter. Lincoln Capital LLC boosted its position in PepsiCo by 0.4% during the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company's stock worth $2,556,000 after acquiring an additional 70 shares during the last quarter. Marshall Financial Group LLC grew its stake in shares of PepsiCo by 2.3% during the 4th quarter. Marshall Financial Group LLC now owns 3,128 shares of the company's stock worth $476,000 after acquiring an additional 70 shares in the last quarter. Osprey Private Wealth LLC raised its holdings in shares of PepsiCo by 0.5% in the fourth quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock valued at $2,290,000 after purchasing an additional 70 shares during the last quarter. Finally, TAGStone Capital Inc. boosted its holdings in PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an "overweight" rating and a $171.00 target price on the stock. CICC Research reiterated a "market perform" rating on shares of PepsiCo in a research note on Friday, February 7th. Wells Fargo & Company lowered their target price on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, BNP Paribas dropped their target price on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $169.88.

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PepsiCo Stock Performance

Shares of NASDAQ:PEP traded up $0.81 on Monday, reaching $145.24. 1,690,091 shares of the company's stock were exchanged, compared to its average volume of 6,071,065. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a twelve month low of $138.33 and a twelve month high of $183.41. The company has a fifty day moving average of $148.37 and a 200-day moving average of $155.68. The company has a market capitalization of $199.17 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company's revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned $1.78 EPS. On average, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo's dividend payout ratio is currently 77.99%.

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.