Arrowstreet Capital Limited Partnership Acquires 595,257 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Arrowstreet Capital Limited Partnership boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,516,146 shares of the company's stock after acquiring an additional 595,257 shares during the period. PepsiCo accounts for about 0.5% of Arrowstreet Capital Limited Partnership's investment portfolio, making the stock its 29th largest position. Arrowstreet Capital Limited Partnership owned about 0.33% of PepsiCo worth $686,725,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PEP. Assenagon Asset Management S.A. lifted its holdings in PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company's stock worth $259,350,000 after purchasing an additional 870,451 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company's stock valued at $6,323,000 after buying an additional 4,712 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company's stock worth $59,549,000 after acquiring an additional 34,633 shares during the last quarter. IHT Wealth Management LLC grew its stake in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company's stock valued at $5,493,000 after acquiring an additional 5,220 shares in the last quarter. Finally, Guinness Asset Management LTD increased its holdings in PepsiCo by 5.2% in the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company's stock valued at $188,031,000 after acquiring an additional 61,541 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

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PepsiCo Trading Down 0.7 %

PEP traded down $1.04 during trading hours on Wednesday, reaching $148.64. 1,871,495 shares of the company's stock traded hands, compared to its average volume of 5,881,456. 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 50-day moving average price of $149.30 and a 200 day moving average price of $157.52. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The firm has a market capitalization of $203.85 billion, a PE ratio of 21.39, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business's revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal 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 paid a $1.355 dividend. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.65%. PepsiCo's dividend payout ratio (DPR) is currently 77.99%.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada initiated coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $169.88.

PepsiCo Profile

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.