Davis R M Inc. Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Davis R M Inc. grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,761 shares of the company’s stock after acquiring an additional 33,652 shares during the quarter. Davis R M Inc.’s holdings in PepsiCo were worth $44,973,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB increased its stake in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the period. Howard Capital Management Group LLC increased its stake in PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after buying an additional 90 shares during the period. Assetmark Inc. increased its stake in PepsiCo by 19.7% in the 3rd quarter. Assetmark Inc. now owns 40,780 shares of the company’s stock worth $6,935,000 after buying an additional 6,704 shares during the period. Ashton Thomas Securities LLC increased its stake in PepsiCo by 53.0% in the 3rd quarter. Ashton Thomas Securities LLC now owns 2,360 shares of the company’s stock worth $401,000 after buying an additional 818 shares during the period. Finally, Kennebec Savings Bank purchased a new position in PepsiCo in the 3rd quarter worth about $1,612,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.2 %

PEP stock opened at $156.25 on Tuesday. The firm has a 50 day moving average of $148.89 and a 200 day moving average of $160.62. The stock has a market capitalization of $214.30 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. HSBC dropped their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Citigroup dropped their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, TD Cowen dropped their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $172.35.

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.