Canoe Financial LP Increases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Canoe Financial LP increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 19.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,240 shares of the company’s stock after buying an additional 18,873 shares during the period. Canoe Financial LP’s holdings in PepsiCo were worth $17,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after purchasing an additional 870,451 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after buying an additional 34,633 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after buying an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC grew its position in shares of PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.2 %

PEP stock opened at $148.25 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm’s fifty day simple moving average is $155.37 and its 200-day simple moving average is $165.82. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company has a market capitalization of $203.40 billion, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.66%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is currently 79.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Barclays lowered their price objective on PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Bank of America lowered their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, UBS Group cut their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average target price of $178.60.

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.