Addenda Capital Inc. Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Addenda Capital Inc. reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,999 shares of the company’s stock after selling 2,216 shares during the period. Addenda Capital Inc.’s holdings in PepsiCo were worth $13,389,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its stake in PepsiCo by 59.4% in the fourth quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock valued at $168,747,000 after acquiring an additional 370,122 shares during the period. Harbour Capital Advisors LLC increased its holdings in shares of PepsiCo by 0.4% in the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after buying an additional 102 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in shares of PepsiCo in the fourth quarter valued at $405,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of PepsiCo by 34.5% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock valued at $2,091,000 after buying an additional 3,159 shares in the last quarter. Finally, Marion Wealth Management increased its holdings in shares of PepsiCo by 31.7% in the fourth quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock valued at $1,340,000 after buying an additional 1,900 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PEP shares. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Monday, March 18th. Jefferies Financial Group boosted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Barclays lowered their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $186.38.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

PepsiCo Stock Down 0.8 %

PepsiCo stock opened at $164.93 on Friday. The firm has a market cap of $226.74 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 2.73 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The firm has a fifty day moving average price of $173.37 and a two-hundred day moving average price of $170.30.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. As a group, analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is currently 81.50%.

PepsiCo Company Profile

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.