PepsiCo, Inc. $PEP Position Increased by NorthRock Partners LLC

NorthRock Partners LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,370 shares of the company’s stock after purchasing an additional 6,436 shares during the quarter. NorthRock Partners LLC’s holdings in PepsiCo were worth $6,091,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Clayton Financial Group LLC bought a new position in PepsiCo in the 3rd quarter worth approximately $872,000. Avantax Advisory Services Inc. raised its stake in PepsiCo by 2.6% during the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after acquiring an additional 4,627 shares in the last quarter. Kathmere Capital Management LLC boosted its position in PepsiCo by 122.6% during the 3rd quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock worth $2,860,000 after acquiring an additional 11,217 shares during the period. Invesco Ltd. boosted its position in PepsiCo by 11.7% during the 2nd quarter. Invesco Ltd. now owns 12,659,046 shares of the company’s stock worth $1,671,500,000 after acquiring an additional 1,330,888 shares during the period. Finally, Mediolanum International Funds Ltd grew its stake in shares of PepsiCo by 19.3% in the third quarter. Mediolanum International Funds Ltd now owns 252,916 shares of the company’s stock worth $35,451,000 after purchasing an additional 40,947 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $159.88 on Friday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The firm has a 50-day moving average of $156.71 and a two-hundred day moving average of $149.68. The company has a market capitalization of $218.50 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.05 and a beta of 0.39.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The company had revenue of $29.34 billion for the quarter, compared to analysts’ expectations of $28.96 billion. During the same quarter in the previous year, the company posted $1.96 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo declared that its board has authorized a share buyback plan on Tuesday, February 3rd that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 annualized dividend and a dividend yield of 3.6%. PepsiCo’s dividend payout ratio is currently 94.83%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEP. Citigroup lifted their price objective on shares of PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. BNP Paribas Exane set a $191.00 target price on shares of PepsiCo in a research note on Wednesday, February 4th. Piper Sandler boosted their price target on shares of PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays upped their price target on shares of PepsiCo from $148.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Finally, HSBC raised their price objective on shares of PepsiCo from $152.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $169.00.

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.