Canoe Financial LP Acquires 18,873 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Canoe Financial LP lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,240 shares of the company’s stock after buying an additional 18,873 shares during the quarter. Canoe Financial LP’s holdings in PepsiCo were worth $17,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock valued at $27,000 after purchasing an additional 59 shares during the last quarter. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo in the third quarter valued at $31,000. Mattson Financial Services LLC bought a new stake in PepsiCo in the second quarter worth $34,000. Finally, Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEP shares. Barclays reduced their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada decreased their price objective on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a report on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft raised shares of PepsiCo from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $184.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $178.60.

PepsiCo Stock Performance

Shares of NASDAQ:PEP opened at $148.25 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The firm has a market cap of $203.40 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54. The firm’s 50 day simple moving average is $155.37 and its 200-day simple moving average is $165.82. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

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.