PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,279,090 shares of the company’s stock after buying an additional 155,889 shares during the quarter. PepsiCo comprises 2.3% of Diamond Hill Capital Management Inc.’s holdings, making the stock its 7th biggest position. Diamond Hill Capital Management Inc. owned 0.24% of PepsiCo worth $540,820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Valued Wealth Advisors LLC raised its stake in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its stake in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo in the second quarter valued at about $30,000. Fortis Group Advisors LLC grew its position in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in PepsiCo in the first quarter valued at about $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $177.36 on Friday. The business’s 50 day simple moving average is $172.37 and its 200 day simple moving average is $171.45. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The stock has a market capitalization of $243.62 billion, a PE ratio of 25.74, a PEG ratio of 3.03 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Analyst Ratings Changes

A number of research analysts have issued reports on PEP shares. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Jefferies Financial Group decreased their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Barclays boosted their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Bank of America reduced their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Profile

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.