PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.3% during the 4th quarter, Holdings Channel reports. The fund owned 17,004 shares of the company’s stock after buying an additional 380 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in PepsiCo were worth $2,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC lifted its stake in shares of PepsiCo by 2.0% in the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares during the period. HighTower Advisors LLC lifted its position in shares of PepsiCo by 3.0% during the 3rd quarter. HighTower Advisors LLC now owns 2,503,842 shares of the company’s stock valued at $426,141,000 after acquiring an additional 71,751 shares during the period. Harmony Asset Management LLC purchased a new stake in shares of PepsiCo during the 3rd quarter worth approximately $241,000. Janus Henderson Group PLC grew its holdings in shares of PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the period. Finally, Investmark Advisory Group LLC increased its stake in PepsiCo by 1.6% in the 3rd quarter. Investmark Advisory Group LLC now owns 21,958 shares of the company’s stock valued at $3,734,000 after purchasing an additional 346 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PEP. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Citigroup lowered their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. TD Cowen dropped their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler began coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $169.88.

PepsiCo Trading Down 0.2 %

Shares of PEP stock opened at $149.67 on Wednesday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The firm’s 50-day simple moving average is $149.30 and its 200-day simple moving average is $157.52. The firm has a market cap of $205.27 billion, a P/E ratio of 21.54, a PEG ratio of 3.09 and a beta of 0.52. 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 (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business earned $1.78 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.62%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

PepsiCo 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.