Canopy Partners LLC Acquires 354 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Canopy Partners LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,816 shares of the company’s stock after buying an additional 354 shares during the period. Canopy Partners LLC’s holdings in PepsiCo were worth $1,036,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after buying an additional 582,254 shares during the period. Charles Schwab Investment Management Inc. increased its position in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares in the last quarter. Norges Bank bought a new position in PepsiCo in the fourth quarter worth approximately $2,729,565,000. Finally, Bank of New York Mellon Corp grew its stake in PepsiCo by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after acquiring an additional 689,383 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $146.61 on Monday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. 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’s fifty day moving average price is $149.33 and its two-hundred day moving average price is $156.94. The firm has a market cap of $201.05 billion, a PE ratio of 21.09, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last issued 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 during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.70%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. TD Cowen decreased their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, HSBC lowered 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, thirteen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $169.88.

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.