Dravo Bay LLC Purchases 510 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Dravo Bay LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 20.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,950 shares of the company’s stock after buying an additional 510 shares during the quarter. Dravo Bay LLC’s holdings in PepsiCo were worth $449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Collier Financial bought a new stake in PepsiCo in the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo in the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the third quarter valued at approximately $31,000. Rakuten Securities Inc. boosted its holdings 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 buying an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC bought a new position in shares of PepsiCo during the 4th quarter worth approximately $34,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Citigroup cut their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada started coverage on PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price target on the stock. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Up 1.6 %

PEP stock opened at $155.99 on Tuesday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business has a fifty day moving average price of $148.68 and a 200-day moving average price of $161.33. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $213.94 billion, a P/E ratio of 22.44, a P/E/G ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released 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 business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is presently 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.