Naples Global Advisors LLC Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Naples Global Advisors LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the fourth quarter, HoldingsChannel reports. The fund owned 24,931 shares of the company’s stock after buying an additional 110 shares during the period. Naples Global Advisors LLC’s holdings in PepsiCo were worth $3,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the third quarter valued at $28,000. Collier Financial bought a new position in PepsiCo during the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the third quarter worth approximately $31,000. Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC bought a new position in PepsiCo during the fourth quarter valued at approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

NASDAQ:PEP opened at $143.99 on Thursday. The stock has a market cap of $197.48 billion, a PE ratio of 20.72, a P/E/G ratio of 2.89 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The business’s 50-day simple moving average is $150.73 and its two-hundred day simple moving average is $163.68. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the firm earned $1.78 EPS. The firm’s revenue was down .2% compared to the same quarter last year. As a group, analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.76%. PepsiCo’s payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup lowered their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. UBS Group lowered their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, BNP Paribas cut their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $171.47.

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.