Augustine Asset Management Inc. Raises Stake in PepsiCo, Inc. (NASDAQ:PEP)

Augustine Asset Management Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,423 shares of the company’s stock after buying an additional 114 shares during the quarter. Augustine Asset Management Inc.’s holdings in PepsiCo were worth $1,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AMF Tjanstepension AB increased its holdings in shares of PepsiCo by 15.8% during the 3rd quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock valued at $50,016,000 after purchasing an additional 40,031 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in PepsiCo by 49.7% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,976 shares of the company’s stock valued at $336,000 after buying an additional 656 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of PepsiCo in the third quarter worth about $44,000. CX Institutional boosted its stake in shares of PepsiCo by 204.1% during the 3rd quarter. CX Institutional now owns 41,184 shares of the company’s stock worth $7,003,000 after acquiring an additional 27,643 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its position in shares of PepsiCo by 1.2% during the 3rd quarter. Wesbanco Bank Inc. now owns 152,685 shares of the company’s stock valued at $25,964,000 after acquiring an additional 1,877 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PEP. Royal Bank of Canada assumed coverage on shares of PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target for the company. Barclays cut their target price on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. TD Cowen reduced their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

NASDAQ PEP opened at $145.64 on Wednesday. The stock has a 50-day moving average of $151.05 and a two-hundred day moving average of $163.87. The company has a market cap of $199.75 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the company earned $1.78 EPS. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, analysts anticipate that PepsiCo, Inc. will post 8.34 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

About PepsiCo

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.