Folger Nolan Fleming Douglas Capital Management Inc. Increases Stock Holdings in PepsiCo, Inc. $PEP

Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 99,764 shares of the company’s stock after purchasing an additional 7,165 shares during the quarter. PepsiCo accounts for 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 22nd biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in PepsiCo were worth $15,492,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Auto Owners Insurance Co increased its position in PepsiCo by 14,857.8% during the fourth quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company’s stock valued at $7,068,777,000 after acquiring an additional 48,923,629 shares during the last quarter. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth about $3,018,813,000. Diamant Asset Management Inc. boosted its stake in shares of PepsiCo by 16,146.5% during the 1st quarter. Diamant Asset Management Inc. now owns 3,586,423 shares of the company’s stock worth $556,936,000 after purchasing an additional 3,564,348 shares during the period. AQR Capital Management LLC boosted its stake in shares of PepsiCo by 120.7% during the 3rd quarter. AQR Capital Management LLC now owns 5,916,417 shares of the company’s stock worth $830,902,000 after purchasing an additional 3,235,726 shares during the period. Finally, Amundi grew its holdings in PepsiCo by 30.0% during the 3rd quarter. Amundi now owns 8,641,588 shares of the company’s stock valued at $1,207,230,000 after purchasing an additional 1,995,362 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

PepsiCo stock opened at $138.68 on Tuesday. 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 $189.54 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 2.85 and a beta of 0.35. The firm has a 50-day moving average of $148.00 and a two-hundred day moving average of $152.02. PepsiCo, Inc. has a 1 year low of $130.59 and a 1 year high of $171.48.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The business had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.48 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.62 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.48 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.3%. PepsiCo’s dividend payout ratio is presently 92.94%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PEP. Barclays raised their price objective on shares of PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Sanford C. Bernstein initiated coverage on PepsiCo in a research note on Thursday, June 11th. They set a “market perform” rating and a $143.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on PepsiCo from $173.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, June 18th. HSBC boosted their price objective on PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a report on Friday, April 17th. Finally, Piper Sandler cut their price objective on PepsiCo from $181.00 to $178.00 and set an “overweight” rating on the stock in a research report on Friday, June 12th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus price target of $166.85.

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.