Cigna Investments Inc. New boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 39,431 shares of the company’s stock after purchasing an additional 2,445 shares during the quarter. PepsiCo comprises about 0.6% of Cigna Investments Inc. New’s holdings, making the stock its 29th biggest holding. Cigna Investments Inc. New’s holdings in PepsiCo were worth $4,735,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in PepsiCo by 2.6% during the 1st quarter. BlackRock Inc. now owns 109,109,695 shares of the company’s stock valued at $13,104,075,000 after acquiring an additional 2,724,092 shares during the period. Geode Capital Management LLC lifted its stake in PepsiCo by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 20,458,721 shares of the company’s stock valued at $2,790,219,000 after acquiring an additional 474,091 shares during the period. Bank of New York Mellon Corp lifted its stake in PepsiCo by 1.0% during the 1st quarter. Bank of New York Mellon Corp now owns 19,594,314 shares of the company’s stock valued at $2,353,277,000 after acquiring an additional 195,427 shares during the period. Norges Bank bought a new position in PepsiCo during the 4th quarter valued at about $1,985,537,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,157,378 shares of the company’s stock valued at $1,388,209,000 after acquiring an additional 272,208 shares during the period. 70.84% of the stock is currently owned by institutional investors.
PEP traded up $0.27 during trading on Friday, reaching $130.48. 3,344,403 shares of the company traded hands, compared to its average volume of 6,111,983. The company has a debt-to-equity ratio of 2.61, a quick ratio of 0.94 and a current ratio of 1.10. PepsiCo, Inc. has a 12-month low of $101.42 and a 12-month high of $147.20. The firm has a fifty day simple moving average of $132.43 and a 200 day simple moving average of $134.80. The company has a market cap of $180.67 billion, a P/E ratio of 25.34, a PEG ratio of 4.98 and a beta of 0.60.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The business had revenue of $13.88 billion during the quarter, compared to analyst estimates of $13.20 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 5.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a dividend of $1.0225 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $0.96. This represents a $4.09 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, June 4th. PepsiCo’s dividend payout ratio (DPR) is 69.08%.
Several research firms have issued reports on PEP. Barclays restated a “hold” rating and set a $136.00 target price on shares of PepsiCo in a research note on Friday, April 17th. Citigroup lowered their price objective on shares of PepsiCo from $157.00 to $148.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Royal Bank of Canada reiterated a “buy” rating and issued a $153.00 price objective on shares of PepsiCo in a research note on Tuesday, April 14th. Deutsche Bank lowered their price objective on shares of PepsiCo from $145.00 to $143.00 and set a “hold” rating on the stock in a research note on Thursday, March 12th. Finally, DZ Bank reiterated a “buy” rating and issued a $136.00 price objective on shares of PepsiCo in a research note on Thursday, March 26th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $142.00.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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