Howe & Rusling Inc. Buys 2,679 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Howe & Rusling Inc. raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,722 shares of the company’s stock after purchasing an additional 2,679 shares during the quarter. PepsiCo accounts for about 1.0% of Howe & Rusling Inc.’s holdings, making the stock its 26th biggest holding. Howe & Rusling Inc.’s holdings in PepsiCo were worth $11,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after purchasing an additional 870,451 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of PepsiCo by 12.8% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after purchasing an additional 4,712 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of PepsiCo by 11.0% during the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares in the last quarter. IHT Wealth Management LLC lifted its position in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the last quarter. Finally, Guinness Asset Management LTD grew its position in PepsiCo by 5.2% during the fourth quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock valued at $188,031,000 after acquiring an additional 61,541 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEP shares. Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. Royal Bank of Canada assumed coverage on PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective on the stock. Evercore ISI lowered their target price on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and decreased their price target for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, HSBC dropped their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $169.88.

PepsiCo Price Performance

Shares of PEP stock opened at $148.64 on Thursday. The business’s fifty day moving average is $149.16 and its 200 day moving average is $158.43. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The stock has a market cap of $203.86 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41.

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

PepsiCo Announces Dividend

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 paid a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. PepsiCo’s payout ratio is currently 77.99%.

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.