Canoe Financial LP Decreases Position in PepsiCo, Inc. $PEP

Canoe Financial LP decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,140 shares of the company’s stock after selling 9,900 shares during the period. Canoe Financial LP’s holdings in PepsiCo were worth $12,519,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. JSF Financial LLC increased its holdings in PepsiCo by 3.8% in the 2nd quarter. JSF Financial LLC now owns 1,897 shares of the company’s stock worth $250,000 after acquiring an additional 69 shares during the last quarter. Binnacle Investments Inc boosted its position in PepsiCo by 33.2% during the second quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock worth $38,000 after purchasing an additional 71 shares during the period. Dogwood Wealth Management LLC increased its stake in shares of PepsiCo by 15.4% in the second quarter. Dogwood Wealth Management LLC now owns 539 shares of the company’s stock worth $73,000 after purchasing an additional 72 shares in the last quarter. Weaver Consulting Group raised its position in shares of PepsiCo by 2.9% in the second quarter. Weaver Consulting Group now owns 2,581 shares of the company’s stock valued at $341,000 after purchasing an additional 72 shares during the period. Finally, Joel Isaacson & Co. LLC lifted its stake in shares of PepsiCo by 0.5% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 16,507 shares of the company’s stock valued at $2,180,000 after buying an additional 74 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PEP opened at $143.64 on Friday. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $160.15. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. The company has a market cap of $196.40 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 4.96 and a beta of 0.42. The stock has a 50-day moving average price of $147.47 and a 200-day moving average price of $143.23.

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

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a $1.4225 dividend. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a yield of 4.0%. PepsiCo’s payout ratio is 108.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Jefferies Financial Group boosted their price objective on PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research note on Tuesday, December 9th. UBS Group restated a “buy” rating and issued a $172.00 target price on shares of PepsiCo in a research note on Tuesday, December 9th. JPMorgan Chase & Co. raised PepsiCo from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $151.00 to $164.00 in a report on Wednesday, December 10th. Finally, HSBC increased their price target on shares of PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $158.75.

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.