Signet Investment Advisory Group Inc. Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Signet Investment Advisory Group Inc. grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 9.0% in the 4th quarter, HoldingsChannel reports. The firm owned 19,076 shares of the company’s stock after purchasing an additional 1,581 shares during the quarter. PepsiCo makes up 1.5% of Signet Investment Advisory Group Inc.’s holdings, making the stock its 29th biggest holding. Signet Investment Advisory Group Inc.’s holdings in PepsiCo were worth $2,901,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEP shares. Citigroup reduced their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. HSBC lowered their target price 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. Wells Fargo & Company decreased their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Royal Bank of Canada assumed coverage on PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Stock Performance

NASDAQ PEP opened at $145.64 on Wednesday. The firm 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. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The business’s 50-day moving average price is $151.05 and its 200 day moving average price is $163.87. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced 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. 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 the consensus estimate of $27.89 billion. During the same period last year, the business posted $1.78 EPS. The company’s revenue was down .2% on a year-over-year basis. On average, equities research analysts expect that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

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

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.