Canopy Partners LLC Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Canopy Partners LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,816 shares of the company’s stock after acquiring an additional 354 shares during the period. Canopy Partners LLC’s holdings in PepsiCo were worth $1,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Howard Capital Management Group LLC lifted its stake in PepsiCo by 2.0% during the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after purchasing an additional 90 shares during the last quarter. Morse Asset Management Inc bought a new stake in PepsiCo in the 3rd quarter worth approximately $996,000. iSAM Funds UK Ltd bought a new position in PepsiCo during the third quarter valued at approximately $347,000. Dunhill Financial LLC raised its stake in shares of PepsiCo by 8.8% during the third quarter. Dunhill Financial LLC now owns 1,813 shares of the company’s stock worth $308,000 after acquiring an additional 146 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in shares of PepsiCo in the 3rd quarter worth approximately $31,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PEP. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 target price for the company. Barclays lowered PepsiCo from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $168.00 to $156.00 in a research report on Tuesday, March 18th. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Morgan Stanley decreased their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $169.88.

PepsiCo Stock Performance

PepsiCo stock opened at $146.61 on Monday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The stock has a market cap of $201.05 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.09 and a beta of 0.49. The stock’s 50 day simple moving average is $149.33 and its two-hundred day simple moving average is $156.94. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.70%. The ex-dividend date was Friday, March 7th. 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.