Tower Bridge Advisors Has $14.55 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Tower Bridge Advisors grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,688 shares of the company’s stock after purchasing an additional 605 shares during the quarter. PepsiCo comprises about 1.5% of Tower Bridge Advisors’ investment portfolio, making the stock its 13th largest position. Tower Bridge Advisors’ holdings in PepsiCo were worth $14,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC raised its position in shares of PepsiCo by 9.2% during the third quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after acquiring an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of PepsiCo by 11.0% during the third 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 last quarter. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in shares of PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 1.0 %

PEP stock opened at $153.47 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $210.48 billion, a P/E ratio of 22.08, a P/E/G ratio of 3.09 and a beta of 0.54. The business has a 50-day moving average of $148.59 and a 200-day moving average of $161.60. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results 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 firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PEP shares. Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Wells Fargo & Company dropped their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. HSBC dropped their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Company 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.