Cidel Asset Management Inc. Buys 394 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cidel Asset Management Inc. raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,257 shares of the company’s stock after buying an additional 394 shares during the quarter. Cidel Asset Management Inc.’s holdings in PepsiCo were worth $1,103,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo in the 3rd quarter worth $31,000. Rakuten Securities Inc. increased its position in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Bay Harbor Wealth Management LLC purchased a new stake in PepsiCo in the fourth quarter valued at about $34,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter worth about $44,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BNP Paribas decreased their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Wells Fargo & Company lowered their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, UBS Group reduced their price objective on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Trading Down 0.5 %

PEP stock opened at $144.58 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company’s 50-day simple moving average is $151.80 and its 200-day simple moving average is $164.26. The firm has a market cap of $198.29 billion, a P/E ratio of 20.80, a PEG ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $27.89 billion. During the same period last year, the company earned $1.78 earnings per share. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. As a group, equities 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio is currently 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.