Bank of Nova Scotia Has $204.50 Million Holdings in PepsiCo, Inc. $PEP

Bank of Nova Scotia raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 211.8% in the second quarter, Holdings Channel reports. The fund owned 1,548,751 shares of the company’s stock after acquiring an additional 1,052,107 shares during the period. Bank of Nova Scotia’s holdings in PepsiCo were worth $204,497,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in PepsiCo by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 136,936,037 shares of the company’s stock worth $18,081,034,000 after purchasing an additional 1,761,785 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of PepsiCo by 0.3% in the second quarter. Geode Capital Management LLC now owns 32,675,492 shares of the company’s stock valued at $4,301,240,000 after buying an additional 86,695 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of PepsiCo by 9.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock worth $3,833,406,000 after acquiring an additional 2,556,163 shares in the last quarter. Norges Bank acquired a new stake in shares of PepsiCo during the second quarter worth $2,330,594,000. Finally, Franklin Resources Inc. lifted its position in PepsiCo by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company’s stock valued at $2,056,797,000 after acquiring an additional 2,541,455 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 1.3%

NASDAQ PEP opened at $145.02 on Monday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $161.50. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The stock has a 50 day moving average of $146.66 and a 200-day moving average of $141.75. The company has a market cap of $198.29 billion, a PE ratio of 27.57, a PEG ratio of 4.97 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period in the previous year, the business earned $2.31 EPS. PepsiCo’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEP shares. Royal Bank Of Canada lowered their target price on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a report on Monday, September 15th. Barclays upped their price objective on PepsiCo from $140.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. HSBC lifted their target price on PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Wall Street Zen raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Finally, Rothschild & Co Redburn lifted their price objective on shares of PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a report on Monday, October 13th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $156.90.

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.