Capricorn Fund Managers Ltd Grows Position in PepsiCo, Inc. $PEP

Capricorn Fund Managers Ltd lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 80.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,678 shares of the company’s stock after buying an additional 16,364 shares during the period. PepsiCo makes up 1.7% of Capricorn Fund Managers Ltd’s holdings, making the stock its 21st biggest position. Capricorn Fund Managers Ltd’s holdings in PepsiCo were worth $5,151,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Nova Wealth Management Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at approximately $25,000. Evolution Wealth Management Inc. acquired a new position in PepsiCo during the second quarter worth $27,000. Legend Financial Advisors Inc. acquired a new stake in shares of PepsiCo in the 2nd quarter worth $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after acquiring an additional 121 shares during the period. Finally, Halbert Hargrove Global Advisors LLC boosted its position in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock valued at $33,000 after acquiring an additional 207 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Jefferies Financial Group lifted their price target on shares of PepsiCo from $163.00 to $164.00 and gave the company a “hold” rating in a research report on Tuesday, December 9th. HSBC increased their price objective on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Royal Bank Of Canada decreased their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating on the stock in a research note on Monday, September 15th. Finally, BNP Paribas Exane cut their price objective on PepsiCo from $152.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $158.75.

PepsiCo Trading Up 0.0%

Shares of NASDAQ PEP opened at $143.78 on Friday. 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 stock has a market capitalization of $196.60 billion, a PE ratio of 27.33, a PEG ratio of 4.96 and a beta of 0.42. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The stock has a fifty day simple moving average of $147.27 and a 200-day simple moving average of $143.41.

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

PepsiCo Announces Dividend

The firm 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 4.0%. PepsiCo’s dividend payout ratio is 108.17%.

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.