Sigma Investment Counselors Inc. Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Sigma Investment Counselors Inc. raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,629 shares of the company’s stock after buying an additional 319 shares during the period. Sigma Investment Counselors Inc.’s holdings in PepsiCo were worth $704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Paulson Wealth Management Inc. lifted its position in shares of PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after purchasing an additional 60 shares during the last quarter. LCM Capital Management Inc lifted its position in shares of PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares during the last quarter. Demars Financial Group LLC lifted its position in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after purchasing an additional 62 shares during the last quarter. Tcfg Wealth Management LLC lifted its position in shares of PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock worth $295,000 after purchasing an additional 66 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in shares of PepsiCo by 0.4% during the third quarter. TCI Wealth Advisors Inc. now owns 14,979 shares of the company’s stock worth $2,547,000 after purchasing an additional 67 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $153.50 on Friday. The firm’s 50 day moving average is $148.66 and its two-hundred day moving average is $162.18. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a market capitalization of $210.53 billion, a P/E ratio of 22.09, a PEG ratio of 3.09 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid 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 dividend yield of 3.53%. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEP. Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. BNP Paribas dropped their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Barclays dropped their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. CICC Research reiterated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Piper Sandler began coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $171.47.

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.