Bank of Nova Scotia Purchases 1,052,107 Shares of PepsiCo, Inc. $PEP

Bank of Nova Scotia boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 211.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,548,751 shares of the company’s stock after purchasing an additional 1,052,107 shares during the period. Bank of Nova Scotia owned about 0.11% of PepsiCo worth $204,497,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. acquired a new position in shares of PepsiCo in the 1st quarter worth approximately $25,000. Legend Financial Advisors Inc. bought a new position in PepsiCo in the 2nd quarter valued at $29,000. Vermillion & White Wealth Management Group LLC boosted its stake in PepsiCo by 107.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after purchasing an additional 121 shares in the last quarter. Frazier Financial Advisors LLC grew its holdings in shares of PepsiCo by 85.3% during the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in shares of PepsiCo in the second quarter valued at $45,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP stock opened at $145.02 on Monday. The firm’s 50 day moving average price is $146.66 and its two-hundred day moving average price is $141.75. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $161.50. The stock has a market cap of $198.29 billion, a PE ratio of 27.57, a PEG ratio of 4.97 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is 108.17%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Wall Street Zen upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. BNP Paribas Exane decreased their price target on shares of PepsiCo from $152.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. UBS Group dropped their price objective on shares of PepsiCo from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Thursday, September 11th. Finally, Piper Sandler decreased their price objective on PepsiCo from $162.00 to $161.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Seven analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $156.90.

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.