PepsiCo, Inc. $PEP Shares Bought by Cim Investment Management Inc.

Cim Investment Management Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 99.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,854 shares of the company’s stock after purchasing an additional 5,417 shares during the quarter. Cim Investment Management Inc.’s holdings in PepsiCo were worth $1,542,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Pathway Financial Advisers LLC lifted its position in shares of PepsiCo by 3.2% in the second quarter. Pathway Financial Advisers LLC now owns 37,925 shares of the company’s stock valued at $5,008,000 after acquiring an additional 1,167 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in PepsiCo in the 2nd quarter valued at $415,000. Saratoga Research & Investment Management boosted its stake in PepsiCo by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 167,435 shares of the company’s stock worth $22,108,000 after purchasing an additional 1,905 shares during the last quarter. Monarch Capital Management Inc. grew its holdings in shares of PepsiCo by 20.5% during the second quarter. Monarch Capital Management Inc. now owns 11,059 shares of the company’s stock worth $1,460,000 after buying an additional 1,882 shares in the last quarter. Finally, North Dallas Bank & Trust Co. acquired a new stake in shares of PepsiCo in the second quarter valued at about $1,895,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 1.1%

NASDAQ PEP opened at $150.65 on Friday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $160.15. The stock has a market capitalization of $205.99 billion, a P/E ratio of 28.64, a PEG ratio of 5.20 and a beta of 0.42. The firm’s 50-day moving average is $147.30 and its two-hundred day moving average is $142.29. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the business posted $2.31 EPS. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio is presently 108.17%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEP. HSBC upped their price objective on shares of PepsiCo from $145.00 to $152.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upgraded PepsiCo from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $151.00 to $164.00 in a research report on Wednesday. UBS Group restated a “buy” rating and issued a $172.00 target price on shares of PepsiCo in a report on Tuesday. Finally, Jefferies Financial Group lifted their price target on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a report on Tuesday, December 9th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $158.35.

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.