InvesTrust Takes $6.27 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

InvesTrust purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 41,256 shares of the company’s stock, valued at approximately $6,268,000. PepsiCo accounts for about 1.7% of InvesTrust’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Fulton Bank N.A. grew its stake in PepsiCo by 9.4% in the 4th quarter. Fulton Bank N.A. now owns 25,141 shares of the company’s stock worth $3,823,000 after acquiring an additional 2,158 shares during the period. Sterneck Capital Management LLC grew its holdings in PepsiCo by 18.6% in the fourth quarter. Sterneck Capital Management LLC now owns 1,642 shares of the company’s stock valued at $250,000 after purchasing an additional 257 shares during the period. Innova Wealth Partners acquired a new position in PepsiCo during the fourth quarter worth approximately $480,000. Range Financial Group LLC raised its stake in PepsiCo by 24.0% during the fourth quarter. Range Financial Group LLC now owns 2,286 shares of the company’s stock worth $348,000 after purchasing an additional 443 shares during the period. Finally, Rise Advisors LLC grew its stake in shares of PepsiCo by 10.2% during the 4th quarter. Rise Advisors LLC now owns 1,225 shares of the company’s stock valued at $186,000 after buying an additional 113 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PEP traded up $0.35 during trading hours on Wednesday, hitting $145.75. 2,987,922 shares of the stock were exchanged, compared to its average volume of 5,996,177. The stock has a market cap of $199.97 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The stock has a 50-day simple moving average of $158.60 and a 200-day simple moving average of $166.97. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. PepsiCo, Inc. has a 12 month low of $144.56 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same period in the previous year, the business posted $2.25 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 79.94%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. cut their target price on PepsiCo from $185.00 to $183.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday. They issued an “overweight” rating and a $171.00 price objective on the stock. Royal Bank of Canada dropped their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Barclays cut their target price on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $180.64.

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.