PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,629 shares of the company’s stock after acquiring an additional 319 shares during the period. Sigma Investment Counselors Inc.’s holdings in PepsiCo were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth approximately $28,000. Collier Financial acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth approximately $31,000. Finally, Rakuten Securities Inc. raised its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the subject of several research reports. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Evercore ISI lowered their target price on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note 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 assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Up 3.0 %

Shares of PepsiCo stock opened at $153.50 on Friday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock has a market cap of $210.53 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company has a fifty day moving average price of $148.66 and a 200 day moving average price of $162.18.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the firm earned $1.78 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. PepsiCo’s dividend payout ratio is currently 77.99%.

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.