Opal Capital LLC bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the fourth quarter, HoldingsChannel reports. The firm bought 44,033 shares of the company’s stock, valued at approximately $6,351,000. PepsiCo makes up approximately 1.6% of Opal Capital LLC’s investment portfolio, making the stock its 22nd largest holding.
A number of other large investors have also modified their holdings of PEP. Brighton Jones LLC raised its stake in shares of PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after buying an additional 6,574 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of PepsiCo during the 1st quarter worth approximately $251,000. Sivia Capital Partners LLC raised its stake in shares of PepsiCo by 138.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after buying an additional 3,790 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in shares of PepsiCo by 10.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 38,164 shares of the company’s stock worth $5,039,000 after buying an additional 3,502 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of PepsiCo by 45.5% during the 2nd quarter. Sei Investments Co. now owns 536,133 shares of the company’s stock worth $70,789,000 after buying an additional 167,707 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.
PepsiCo Price Performance
PEP stock opened at $146.12 on Wednesday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48. The stock’s fifty day simple moving average is $150.68 and its 200-day simple moving average is $152.40. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $199.71 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 2.65 and a beta of 0.35.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a $1.48 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 annualized dividend and a dividend yield of 4.1%. PepsiCo’s dividend payout ratio is 92.94%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on PEP shares. Piper Sandler lowered their price target on PepsiCo from $181.00 to $178.00 and set an “overweight” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on PepsiCo from $169.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Royal Bank Of Canada lowered their price target on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a report on Thursday, April 9th. TD Cowen lowered their price target on PepsiCo from $165.00 to $150.00 and set a “hold” rating on the stock in a report on Friday, June 12th. Finally, The Goldman Sachs Group upped their price target on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $167.35.
View Our Latest Stock Analysis on PEP
PepsiCo News Roundup
Here are the key news stories impacting PepsiCo this week:
- Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
- Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
- Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
- Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
- Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
- Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why
About PepsiCo
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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