Federated Hermes Inc. Has $92.76 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Federated Hermes Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 562,428 shares of the company’s stock after buying an additional 9,122 shares during the period. Federated Hermes Inc.’s holdings in PepsiCo were worth $92,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. GHP Investment Advisors Inc. raised its holdings in shares of PepsiCo by 4.1% during the 2nd quarter. GHP Investment Advisors Inc. now owns 65,171 shares of the company’s stock valued at $10,749,000 after purchasing an additional 2,553 shares in the last quarter. Meeder Advisory Services Inc. increased its position in PepsiCo by 27.7% during the second quarter. Meeder Advisory Services Inc. now owns 26,802 shares of the company’s stock worth $4,420,000 after buying an additional 5,811 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in PepsiCo by 1.5% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,806,874 shares of the company’s stock valued at $468,709,000 after buying an additional 42,620 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of PepsiCo by 3.4% in the second quarter. Oppenheimer & Co. Inc. now owns 167,299 shares of the company’s stock worth $27,593,000 after buying an additional 5,526 shares during the last quarter. Finally, Parthenon LLC boosted its stake in shares of PepsiCo by 0.3% during the 2nd quarter. Parthenon LLC now owns 101,698 shares of the company’s stock worth $16,773,000 after acquiring an additional 291 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on PEP shares. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. decreased their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada dropped their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Morgan Stanley reduced their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Seven equities 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 presently has a consensus rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Stock Performance

NASDAQ PEP opened at $177.25 on Friday. The firm has a market cap of $243.47 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 3.03 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The company has a 50 day moving average of $172.11 and a 200-day moving average of $171.37.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the previous year, the business posted $2.09 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

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

PepsiCo Company 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.