iA Global Asset Management Inc. Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

iA Global Asset Management Inc. raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,289 shares of the company’s stock after purchasing an additional 14,621 shares during the period. iA Global Asset Management Inc.’s holdings in PepsiCo were worth $24,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB grew its stake in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. Howard Capital Management Group LLC grew its stake in shares of PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after acquiring an additional 90 shares during the last quarter. BIP Wealth LLC grew its stake in shares of PepsiCo by 1.9% during the third quarter. BIP Wealth LLC now owns 3,601 shares of the company’s stock worth $612,000 after acquiring an additional 67 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of PepsiCo by 4.0% during the third quarter. Avior Wealth Management LLC now owns 18,313 shares of the company’s stock worth $3,114,000 after acquiring an additional 703 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of PepsiCo during the third quarter worth about $4,838,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.6 %

Shares of PEP stock opened at $148.11 on Thursday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market cap of $203.13 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.09 and a beta of 0.52. The stock has a 50 day simple moving average of $148.97 and a 200-day simple moving average of $159.50. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the company posted $1.78 EPS. The business’s quarterly revenue was down .2% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Royal Bank of Canada started coverage on PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Morgan Stanley dropped their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Evercore ISI dropped their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $169.88.

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.