Ally Financial Inc. Has $12.47 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Ally Financial Inc. lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 173.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,000 shares of the company's stock after acquiring an additional 52,000 shares during the quarter. PepsiCo comprises approximately 1.5% of Ally Financial Inc.'s holdings, making the stock its 11th biggest holding. Ally Financial Inc.'s holdings in PepsiCo were worth $12,469,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Howard Capital Management Group LLC raised its holdings in PepsiCo by 2.0% in the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company's stock valued at $777,000 after acquiring an additional 90 shares in the last quarter. Morse Asset Management Inc bought a new position in shares of PepsiCo in the 3rd quarter worth about $996,000. Invst LLC raised its stake in PepsiCo by 4.6% during the third quarter. Invst LLC now owns 3,003 shares of the company's stock worth $511,000 after acquiring an additional 133 shares during the period. Virtu Financial LLC acquired a new position in shares of PepsiCo during the third quarter valued at $1,611,000. Finally, Te Ahumairangi Investment Management Ltd grew its holdings in PepsiCo by 3.4% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 16,624 shares of the company's stock worth $2,811,000 after buying an additional 550 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

NASDAQ:PEP traded up $2.75 during trading hours on Friday, reaching $142.84. The company had a trading volume of 6,052,161 shares, compared to its average volume of 6,110,283. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $195.88 billion, a PE ratio of 20.55, a PEG ratio of 3.09 and a beta of 0.49. PepsiCo, Inc. has a one year low of $138.33 and a one year high of $183.41. The stock has a 50-day moving average of $148.16 and a two-hundred day moving average of $154.94.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analysts' expectations of $27.89 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. PepsiCo's revenue was down .2% compared to the same quarter last year. Analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Friday, March 7th. PepsiCo's dividend payout ratio is currently 77.99%.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of recent analyst reports. Bank of America reiterated a "neutral" rating and issued a $155.00 target price (down previously from $185.00) on shares of PepsiCo in a research report on Tuesday. Piper Sandler assumed coverage on PepsiCo in a research report on Tuesday, January 7th. They set 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 report on Friday, February 7th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a research report on Wednesday, January 22nd. Finally, HSBC cut their price target on PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $168.12.

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.