Shorepoint Capital Partners LLC Increases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Shorepoint Capital Partners LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,247 shares of the company’s stock after purchasing an additional 644 shares during the quarter. PepsiCo comprises 1.2% of Shorepoint Capital Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Shorepoint Capital Partners LLC’s holdings in PepsiCo were worth $5,208,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of PepsiCo by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after buying an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Norges Bank bought a new stake in PepsiCo in the 4th quarter valued at $2,729,565,000. Finally, Bank of New York Mellon Corp grew its holdings in PepsiCo by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after buying an additional 689,383 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PEP shares. Barclays cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $168.00 to $156.00 in a research report on Tuesday, March 18th. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Royal Bank of Canada restated a “sector perform” rating and set a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, HSBC lowered their price target 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. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $162.00.

PepsiCo Trading Down 1.4 %

Shares of PepsiCo stock opened at $133.38 on Friday. The stock’s 50 day simple moving average is $147.70 and its 200-day simple moving average is $153.79. The stock has a market cap of $182.91 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.09 and a beta of 0.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $131.80 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.04). The business had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 4.06%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

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.