Choreo LLC Has $14.01 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Choreo LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 33.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,725 shares of the company’s stock after purchasing an additional 23,158 shares during the quarter. Choreo LLC’s holdings in PepsiCo were worth $14,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. International Assets Investment Management LLC raised its stake in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. State Street Corp grew its position in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. grew its position in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after acquiring an additional 2,264,445 shares during the last quarter. Swedbank AB grew its position in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PepsiCo by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $143.49 on Wednesday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The business’s 50 day moving average price is $152.49 and its two-hundred day moving average price is $164.53. The firm has a market cap of $196.87 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on PepsiCo in a research report on Tuesday. They issued a $172.00 target price on the stock. HSBC decreased their target price on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday. Barclays reduced their price target on PepsiCo from $183.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Finally, TD Cowen reduced their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $173.53.

About PepsiCo

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.