Cannell & Co. Purchases 109 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cannell & Co. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,111 shares of the company’s stock after buying an additional 109 shares during the period. Cannell & Co.’s holdings in PepsiCo were worth $22,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PEP. Amplius Wealth Advisors LLC boosted its position in PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after buying an additional 60 shares during the period. Darwin Wealth Management LLC boosted its position in shares of PepsiCo by 2.7% in the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after purchasing an additional 61 shares during the period. Sugarloaf Wealth Management LLC raised its position in PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after purchasing an additional 61 shares during the last quarter. Capital Investment Counsel Inc raised its holdings in shares of PepsiCo by 1.6% in the fourth quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock valued at $699,000 after buying an additional 64 shares during the last quarter. Finally, Beacon Financial Advisory LLC increased its holdings in shares of PepsiCo by 3.1% in the third quarter. Beacon Financial Advisory LLC now owns 2,135 shares of the company’s stock valued at $362,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEP shares. Barclays lifted their price objective on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Jefferies Financial Group boosted their target price on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Stock Performance

Shares of PEP traded down $0.26 during mid-day trading on Wednesday, hitting $175.65. The company’s stock had a trading volume of 1,488,473 shares, compared to its average volume of 5,754,421. The stock’s 50-day moving average is $169.74 and its two-hundred day moving average is $168.16. The firm has a market capitalization of $241.48 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 2.87 and a beta of 0.53. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the prior year, the business earned $1.50 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.09%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is 76.09%.

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.