Douglas Lane & Associates LLC Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Douglas Lane & Associates LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,922 shares of the company’s stock after buying an additional 20,016 shares during the period. Douglas Lane & Associates LLC’s holdings in PepsiCo were worth $33,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in PepsiCo during the 3rd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the third quarter valued at about $31,000. Mattson Financial Services LLC acquired a new position in shares of PepsiCo during the second quarter worth about $34,000. Finally, Rakuten Securities Inc. boosted its position in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PEP. Morgan Stanley cut shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research report on Friday, September 20th. JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Redburn Atlantic raised shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America lowered their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Piper Sandler started coverage on PepsiCo in a research report on Tuesday. They issued an “overweight” rating and a $171.00 target price for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $180.64.

PepsiCo Stock Performance

Shares of PEP traded up $0.35 on Wednesday, reaching $145.75. 2,987,922 shares of the stock traded hands, compared to its average volume of 5,996,177. The firm has a market cap of $199.97 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 2.94 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $144.56 and a 12 month high of $183.41. The stock’s 50-day moving average price is $158.60 and its 200-day moving average price is $166.97. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. During the same quarter last year, the company earned $2.25 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

PepsiCo Company 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.