iA Global Asset Management Inc. Has $47.36 Million Holdings in PepsiCo, Inc. $PEP

iA Global Asset Management Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 45.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 329,957 shares of the company’s stock after buying an additional 103,344 shares during the quarter. iA Global Asset Management Inc.’s holdings in PepsiCo were worth $47,355,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PEP. JCIC Asset Management Inc. acquired a new position in PepsiCo in the third quarter valued at approximately $27,000. MH & Associates Securities Management Corp ADV acquired a new position in PepsiCo in the fourth quarter valued at approximately $29,000. Imprint Wealth LLC acquired a new position in PepsiCo in the third quarter valued at approximately $31,000. Strategic Advocates LLC acquired a new position in PepsiCo in the third quarter valued at approximately $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter valued at approximately $33,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on PepsiCo from $154.00 to $165.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. HSBC upped their target price on PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. Barclays upped their target price on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research report on Monday, April 20th. BNP Paribas Exane upped their target price on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, TD Cowen upped their target price on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $170.37.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $149.12 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The stock’s 50 day moving average is $155.25 and its 200-day moving average is $152.42. The firm has a market capitalization of $203.81 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.73 and a beta of 0.38.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. PepsiCo’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, June 5th. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is currently 89.32%.

PepsiCo announced that its board has approved a share repurchase plan on Tuesday, February 3rd that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

PepsiCo Profile

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.