Sunpointe LLC Has $349,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Sunpointe LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 32.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,272 shares of the company’s stock after purchasing an additional 551 shares during the quarter. Sunpointe LLC’s holdings in PepsiCo were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PEP. International Assets Investment Management LLC grew its holdings in shares of PepsiCo by 17,113.0% during the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares during the last quarter. State Street Corp grew its holdings in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. increased its position in PepsiCo by 21.1% in the 3rd 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 period. Swedbank AB lifted its holdings in shares of PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the period. Finally, Van ECK Associates Corp increased its holdings in PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock valued at $258,158,000 after purchasing an additional 1,328,672 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.2 %

Shares of NASDAQ PEP opened at $145.81 on Thursday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a market capitalization of $199.98 billion, a P/E ratio of 20.98, a P/E/G ratio of 2.95 and a beta of 0.54. The company has a 50-day moving average price of $149.16 and a 200-day moving average price of $162.60.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PEP shares. JPMorgan Chase & Co. cut their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. Morgan Stanley decreased their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. HSBC dropped their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Finally, StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.47.

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.