Brandywine Global Investment Management LLC Acquires 414,393 Shares of PepsiCo, Inc. $PEP

Brandywine Global Investment Management LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 42.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,391,861 shares of the company’s stock after purchasing an additional 414,393 shares during the period. PepsiCo accounts for 1.3% of Brandywine Global Investment Management LLC’s portfolio, making the stock its 13th largest holding. Brandywine Global Investment Management LLC’s holdings in PepsiCo were worth $199,760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. MH & Associates Securities Management Corp ADV bought a new stake in shares of PepsiCo in the 4th quarter valued at approximately $29,000. Imprint Wealth LLC bought a new position in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in PepsiCo in the 4th quarter valued at $33,000. Evolution Wealth Management Inc. grew its position in PepsiCo by 47.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 232 shares of the company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. Finally, Strategic Advocates LLC acquired a new position in PepsiCo during the third quarter worth $33,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PEP. JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $172.00 to $178.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Evercore raised their price objective on shares of PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. Wells Fargo & Company reduced their target price on PepsiCo from $160.00 to $150.00 and set an “equal weight” rating on the stock in a report on Friday. BNP Paribas Exane increased their price target on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PepsiCo in a research report on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus price target of $169.58.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $141.92 on Monday. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The company has a 50 day moving average of $152.21 and a 200-day moving average of $152.54. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The stock has a market cap of $193.97 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.57 and a beta of 0.35.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.48 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, June 5th. PepsiCo’s dividend payout ratio is presently 92.94%.

PepsiCo Company 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.