Carlson Capital L.P. Buys New Shares in PepsiCo, Inc. $PEP

Carlson Capital L.P. purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,700 shares of the company’s stock, valued at approximately $885,000. PepsiCo comprises 0.4% of Carlson Capital L.P.’s holdings, making the stock its 15th biggest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nova Wealth Management Inc. acquired a new stake in shares of PepsiCo during the first quarter worth $25,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo during the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares in the last quarter. Frazier Financial Advisors LLC boosted its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after buying an additional 122 shares during the period. Finally, RMG Wealth Management LLC purchased a new position in shares of PepsiCo in the second quarter worth approximately $45,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PEP shares. Bank of America raised their price objective on shares of PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. UBS Group decreased their target price on PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. DZ Bank raised PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 price target on the stock in a research report on Tuesday, October 21st. The Goldman Sachs Group raised their price objective on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Loop Capital set a $164.00 target price on PepsiCo in a report on Thursday, October 23rd. Seven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $156.90.

PepsiCo Stock Performance

Shares of PEP stock opened at $147.98 on Thursday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $165.13. The stock’s 50-day moving average is $145.72 and its two-hundred day moving average is $140.85. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. The firm has a market cap of $202.34 billion, a P/E ratio of 28.13, a PEG ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is currently 108.17%.

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.