Legato Capital Management LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,276 shares of the company’s stock, valued at approximately $757,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. MH & Associates Securities Management Corp ADV purchased a new stake in PepsiCo in the fourth quarter valued at about $29,000. Imprint Wealth LLC purchased a new position in shares of PepsiCo in the third quarter worth about $31,000. Strategic Advocates LLC purchased a new position in shares of PepsiCo in the third quarter worth about $33,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of PepsiCo in the fourth quarter worth about $33,000. Finally, Highline Wealth Partners LLC raised its stake in shares of PepsiCo by 56.3% in the fourth quarter. Highline Wealth Partners LLC now owns 250 shares of the company’s stock worth $36,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on PEP shares. Piper Sandler raised their price objective on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday, March 12th. Royal Bank Of Canada dropped their price target on shares of PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 9th. TD Cowen lifted their price target on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Wednesday, April 8th. Finally, Evercore boosted their price objective on PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus price target of $170.11.
PepsiCo Price Performance
PEP stock opened at $150.57 on Tuesday. The business’s fifty day moving average price is $154.00 and its 200 day moving average price is $152.57. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48. The company has a market capitalization of $205.79 billion, a PE ratio of 23.64, a P/E/G ratio of 2.73 and a beta of 0.38.
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.PepsiCo’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 EPS. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.63 EPS for the current year.
PepsiCo Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 3.9%. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is currently 89.32%.
PepsiCo declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
PepsiCo Profile
PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.
Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.
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