Manchester Capital Management LLC Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Manchester Capital Management LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,969 shares of the company’s stock after purchasing an additional 315 shares during the period. Manchester Capital Management LLC’s holdings in PepsiCo were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at about $28,000. Collier Financial acquired a new stake in PepsiCo during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the third quarter worth about $31,000. Rakuten Securities Inc. raised its stake in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after acquiring an additional 96 shares during the period. Finally, Bay Harbor Wealth Management LLC acquired a new stake in PepsiCo during the fourth quarter worth about $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEP. JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. BNP Paribas dropped their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Trading Down 0.8 %

PepsiCo stock opened at $143.39 on Friday. The firm has a 50 day simple moving average of $150.09 and a 200-day simple moving average of $163.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. The stock has a market capitalization of $196.66 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41.

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. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 3.78%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 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.