Fortis Group Advisors LLC Acquires 10,255 Shares of PepsiCo, Inc. $PEP

Fortis Group Advisors LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22,293.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,301 shares of the company’s stock after buying an additional 10,255 shares during the quarter. Fortis Group Advisors LLC’s holdings in PepsiCo were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PEP. Brighton Jones LLC increased its stake in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Caxton Associates LLP purchased a new position in PepsiCo during the first quarter valued at $251,000. Sivia Capital Partners LLC boosted its position in shares of PepsiCo by 138.5% in the second quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock worth $862,000 after purchasing an additional 3,790 shares during the period. Signature Estate & Investment Advisors LLC boosted its stake in shares of PepsiCo by 4.4% in the second quarter. Signature Estate & Investment Advisors LLC now owns 4,571 shares of the company’s stock worth $604,000 after acquiring an additional 193 shares during the period. Finally, Balboa Wealth Partners lifted its holdings in shares of PepsiCo by 6.0% in the second quarter. Balboa Wealth Partners now owns 2,701 shares of the company’s stock worth $357,000 after buying an additional 152 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $161.92 on Wednesday. The business has a 50-day simple moving average of $150.36 and a 200-day simple moving average of $147.51. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. The company has a market cap of $221.29 billion, a PE ratio of 26.99, a P/E/G ratio of 3.16 and a beta of 0.40. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.02. The company had revenue of $29.34 billion for the quarter, compared to analysts’ expectations of $28.96 billion. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo announced that its board has approved a share repurchase program on Tuesday, February 3rd that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 6th will be given a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, March 6th. PepsiCo’s dividend payout ratio (DPR) is 94.83%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PEP shares. Wall Street Zen lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Piper Sandler lifted their target price on PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. boosted their price target on PepsiCo from $164.00 to $176.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Citigroup upped their target price on PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Rothschild & Co Redburn upped their price objective on shares of PepsiCo from $120.00 to $130.00 and gave the stock a “sell” rating in a research report on Tuesday, February 10th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $167.83.

PepsiCo Company 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.