Howe & Rusling Inc. Has $13.57 Million Stake in PepsiCo, Inc. $PEP

Howe & Rusling Inc. decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 94,556 shares of the company’s stock after selling 4,624 shares during the period. Howe & Rusling Inc.’s holdings in PepsiCo were worth $13,571,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PEP. Captrust Financial Advisors lifted its position in shares of PepsiCo by 3.6% in the 3rd quarter. Captrust Financial Advisors now owns 554,798 shares of the company’s stock worth $77,916,000 after acquiring an additional 19,218 shares during the period. Swiss Life Asset Management Ltd lifted its position in shares of PepsiCo by 11.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company’s stock worth $59,600,000 after acquiring an additional 42,335 shares during the period. Murphy Middleton Hinkle & Parker Inc. lifted its position in shares of PepsiCo by 622.3% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock worth $5,110,000 after acquiring an additional 30,674 shares during the period. Allstate Corp lifted its position in shares of PepsiCo by 108.1% in the 4th quarter. Allstate Corp now owns 104,723 shares of the company’s stock worth $15,030,000 after acquiring an additional 54,405 shares during the period. Finally, NEOS Investment Management LLC lifted its position in shares of PepsiCo by 65.8% in the 3rd quarter. NEOS Investment Management LLC now owns 577,111 shares of the company’s stock worth $81,049,000 after acquiring an additional 229,121 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
• Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
• Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
• Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $169.00 to $173.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. BNP Paribas Exane raised their price objective on PepsiCo from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Royal Bank Of Canada reduced their price objective on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. Finally, UBS Group cut their target price on PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $167.35.

PepsiCo Price Performance

PepsiCo stock opened at $146.12 on Wednesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The company has a market capitalization of $199.71 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.65 and a beta of 0.35. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The business has a 50 day simple moving average of $150.68 and a 200 day simple moving average of $152.40.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. The business had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.PepsiCo’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.48 EPS. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.1%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s payout ratio is 92.94%.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.