Cidel Asset Management Inc. Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Cidel Asset Management Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% in the 4th quarter, Holdings Channel reports. The fund owned 7,257 shares of the company’s stock after acquiring an additional 394 shares during the quarter. Cidel Asset Management Inc.’s holdings in PepsiCo were worth $1,103,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Highline Wealth Partners LLC purchased a new position in PepsiCo during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo during the 3rd quarter worth $31,000. Rakuten Securities Inc. grew its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Bay Harbor Wealth Management LLC acquired a new stake in PepsiCo during the fourth quarter worth about $34,000. Finally, ORG Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. BNP Paribas lowered their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday. Evercore ISI reduced their price objective on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday. Wells Fargo & Company dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays lowered their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $171.47.

PepsiCo Trading Down 0.5 %

PEP opened at $144.58 on Friday. The business’s 50-day simple moving average is $151.80 and its 200-day simple moving average is $164.26. The company has a market cap of $198.29 billion, a P/E ratio of 20.80, a PEG ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

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

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, March 7th. 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.