Citizens Financial Group Inc. RI Purchases 126,206 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Citizens Financial Group Inc. RI raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 143.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,196 shares of the company’s stock after acquiring an additional 126,206 shares during the period. PepsiCo makes up approximately 0.8% of Citizens Financial Group Inc. RI’s holdings, making the stock its 26th biggest holding. Citizens Financial Group Inc. RI’s holdings in PepsiCo were worth $35,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. One Capital Management LLC raised its stake in PepsiCo by 51.7% during the second quarter. One Capital Management LLC now owns 9,817 shares of the company’s stock valued at $1,619,000 after purchasing an additional 3,344 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of PepsiCo by 0.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 215,342 shares of the company’s stock valued at $35,525,000 after buying an additional 687 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PepsiCo by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after acquiring an additional 561,465 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after acquiring an additional 700,092 shares during the last quarter. Finally, Capital Wealth Planning LLC lifted its stake in shares of PepsiCo by 11.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 4,595 shares of the company’s stock valued at $758,000 after purchasing an additional 456 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.1 %

Shares of NASDAQ:PEP opened at $177.36 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm has a market capitalization of $243.62 billion, a P/E ratio of 25.74, a P/E/G ratio of 3.03 and a beta of 0.53. The business’s 50-day moving average is $172.37 and its 200 day moving average is $171.48. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the firm earned $2.09 EPS. PepsiCo’s revenue was up .8% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. PepsiCo’s dividend payout ratio is currently 78.66%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEP. Barclays increased their price target on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Morgan Stanley dropped their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, Bank of America cut their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research 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 company’s stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

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.