Franklin Resources Inc. Raises Stake in PepsiCo, Inc. $PEP

Franklin Resources Inc. increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 15,577,073 shares of the company’s stock after buying an additional 2,541,455 shares during the period. Franklin Resources Inc.’s holdings in PepsiCo were worth $2,056,797,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEP. Graham Capital Wealth Management LLC boosted its position in shares of PepsiCo by 23.7% in the 2nd quarter. Graham Capital Wealth Management LLC now owns 2,268 shares of the company’s stock worth $299,000 after purchasing an additional 435 shares in the last quarter. Mediolanum International Funds Ltd increased its position in PepsiCo by 22.0% during the 2nd quarter. Mediolanum International Funds Ltd now owns 211,969 shares of the company’s stock valued at $27,776,000 after buying an additional 38,159 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in PepsiCo by 52.5% in the second quarter. Brandywine Global Investment Management LLC now owns 799,496 shares of the company’s stock worth $105,565,000 after acquiring an additional 275,083 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in shares of PepsiCo by 767.6% in the second quarter. Hillsdale Investment Management Inc. now owns 9,440 shares of the company’s stock worth $1,246,000 after acquiring an additional 8,352 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of PepsiCo during the second quarter valued at $944,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $146.10 on Friday. The firm has a fifty day simple moving average of $145.31 and a two-hundred day simple moving average of $140.36. The firm has a market cap of $199.77 billion, a PE ratio of 27.78, a P/E/G ratio of 3.56 and a beta of 0.45. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $165.13.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company’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, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, December 5th. PepsiCo’s payout ratio is currently 108.17%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of analyst reports. HSBC upped their price target on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. The Goldman Sachs Group raised their price target on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Citigroup lowered their price objective on PepsiCo from $168.00 to $165.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Finally, Rothschild & Co Redburn lifted their target price on PepsiCo from $115.00 to $117.00 and gave the stock a “sell” rating in a report on Monday, October 13th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $156.95.

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.