Havemeyer Place LP acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,607 shares of the company’s stock, valued at approximately $1,235,000.
Other hedge funds have also modified their holdings of the company. Captrust Financial Advisors grew its stake in PepsiCo by 3.6% in the third quarter. Captrust Financial Advisors now owns 554,798 shares of the company’s stock valued at $77,916,000 after purchasing an additional 19,218 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in shares of PepsiCo by 11.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company’s stock valued at $59,600,000 after buying an additional 42,335 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. lifted its position in shares of PepsiCo by 622.3% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock valued at $5,110,000 after buying an additional 30,674 shares during the last quarter. Allstate Corp lifted its position in shares of PepsiCo by 108.1% in the fourth quarter. Allstate Corp now owns 104,723 shares of the company’s stock valued at $15,030,000 after buying an additional 54,405 shares during the last quarter. Finally, NEOS Investment Management LLC lifted its position in shares of PepsiCo by 65.8% in the third quarter. NEOS Investment Management LLC now owns 577,111 shares of the company’s stock valued at $81,049,000 after buying an additional 229,121 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.
PepsiCo Stock Performance
NASDAQ:PEP opened at $141.92 on Monday. The stock has a market cap of $193.97 billion, a P/E ratio of 22.28, a PEG ratio of 2.57 and a beta of 0.35. The stock has a 50 day simple moving average of $152.21 and a 200 day simple moving average of $152.54. 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 1-year low of $127.60 and a 1-year high of $171.48.
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. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. PepsiCo’s dividend payout ratio is 92.94%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. HSBC raised their price objective on PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a research report on Friday, April 17th. Rothschild & Co Redburn raised their price objective on PepsiCo from $130.00 to $132.00 in a research report on Monday, May 11th. UBS Group cut their price objective on PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company cut their price objective on PepsiCo from $160.00 to $150.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Evercore raised their price objective on PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $169.58.
Read Our Latest Stock Analysis on PepsiCo
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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