VELA Investment Management LLC Boosts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

VELA Investment Management LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 96.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,517 shares of the company’s stock after purchasing an additional 8,579 shares during the period. VELA Investment Management LLC’s holdings in PepsiCo were worth $2,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in PepsiCo by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 14,480 shares of the company’s stock valued at $2,202,000 after purchasing an additional 162 shares in the last quarter. Bouchey Financial Group Ltd boosted its holdings in shares of PepsiCo by 6.1% in the 4th quarter. Bouchey Financial Group Ltd now owns 2,898 shares of the company’s stock valued at $442,000 after buying an additional 167 shares in the last quarter. Anchor Capital Advisors LLC raised its stake in shares of PepsiCo by 9.7% during the 4th quarter. Anchor Capital Advisors LLC now owns 101,365 shares of the company’s stock worth $15,414,000 after acquiring an additional 8,953 shares in the last quarter. Shoker Investment Counsel Inc. lifted its position in PepsiCo by 0.6% during the fourth quarter. Shoker Investment Counsel Inc. now owns 21,797 shares of the company’s stock valued at $3,315,000 after acquiring an additional 137 shares during the last quarter. Finally, Van Cleef Asset Management Inc grew its holdings in PepsiCo by 0.7% in the fourth quarter. Van Cleef Asset Management Inc now owns 85,678 shares of the company’s stock worth $13,028,000 after purchasing an additional 594 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. Morgan Stanley decreased their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. BNP Paribas decreased their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Finally, HSBC lowered their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Up 0.3 %

PepsiCo stock opened at $152.02 on Friday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a market cap of $208.50 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The business’s 50-day moving average price is $148.57 and its 200 day moving average price is $161.73. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. As a group, sell-side analysts anticipate 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 Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 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.