Mirae Asset Global Investments Co. Ltd. Purchases 199,803 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 28.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 913,400 shares of the company’s stock after acquiring an additional 199,803 shares during the period. PepsiCo comprises 0.6% of Mirae Asset Global Investments Co. Ltd.’s portfolio, making the stock its 25th biggest position. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of PepsiCo worth $138,621,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in shares of PepsiCo during the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the 3rd quarter valued at $31,000. Rakuten Securities Inc. grew its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares in the last quarter. Bay Harbor Wealth Management LLC purchased a new position in shares of PepsiCo during the fourth quarter valued at $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in PepsiCo in the third quarter worth about $44,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 4.5 %

NASDAQ:PEP opened at $143.49 on Wednesday. The firm has a market capitalization of $196.87 billion, a P/E ratio of 21.16, a PEG ratio of 2.92 and a beta of 0.54. The company’s fifty day moving average price is $152.86 and its 200-day moving average price is $164.71. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of several research reports. Evercore ISI lowered their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday. Wells Fargo & Company cut their price target on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday. They set a $172.00 price objective for the company. HSBC reduced their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $174.53.

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.