NovaPoint Capital LLC Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

NovaPoint Capital LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,877 shares of the company’s stock after purchasing an additional 1,289 shares during the quarter. NovaPoint Capital LLC’s holdings in PepsiCo were worth $3,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Highline Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at approximately $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at approximately $31,000. Rakuten Securities Inc. grew its stake in shares of 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 acquiring an additional 96 shares during the period. Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the 4th quarter valued at approximately $34,000. Finally, ORG Wealth Partners LLC bought a new position in shares of PepsiCo during the 3rd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of recent research reports. Evercore ISI cut their price objective on PepsiCo from $180.00 to $160.00 in a research note on Tuesday. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Morgan Stanley dropped their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada started coverage on PepsiCo in a research note on Tuesday. They issued a $172.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.76.

PepsiCo Stock Performance

NASDAQ:PEP opened at $145.66 on Thursday. The stock’s fifty day moving average is $152.49 and its 200 day moving average is $164.53. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm has a market capitalization of $199.84 billion, a PE ratio of 21.48, a PEG ratio of 2.92 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

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 return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.72%. PepsiCo’s payout ratio is 79.94%.

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.