PepsiCo, Inc. $PEP Shares Acquired by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,740 shares of the company’s stock after buying an additional 3,990 shares during the period. Lockheed Martin Investment Management Co.’s holdings in PepsiCo were worth $11,444,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PEP. JCIC Asset Management Inc. acquired a new position in shares of PepsiCo in the 3rd quarter valued at $27,000. MH & Associates Securities Management Corp ADV acquired a new stake in PepsiCo during the 4th quarter worth $29,000. Imprint Wealth LLC acquired a new stake in PepsiCo during the 3rd quarter worth $31,000. Strategic Advocates LLC acquired a new stake in PepsiCo during the 3rd quarter worth $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in PepsiCo during the 4th quarter worth $33,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.3%

Shares of PepsiCo stock opened at $149.12 on Friday. The company has a market cap of $203.81 billion, a P/E ratio of 23.41, a PEG ratio of 2.72 and a beta of 0.38. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The firm has a fifty day moving average of $155.25 and a two-hundred day moving average of $152.42.

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

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a $1.48 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is 89.32%.

PepsiCo declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 3rd that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEP. Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $169.00 to $173.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. UBS Group cut their price objective on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Argus upgraded shares of PepsiCo to a “hold” rating in a research report on Tuesday, February 17th. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Finally, Piper Sandler upped their price objective on shares of PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $170.37.

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.