PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.8% during the fourth quarter, Holdings Channel reports. The firm owned 5,830 shares of the company’s stock after buying an additional 265 shares during the period. Pinnacle West Asset Management Inc.’s holdings in PepsiCo were worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC raised its position in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after purchasing an additional 8,406 shares during the period. Assenagon Asset Management S.A. grew its holdings in PepsiCo by 104.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after buying an additional 870,451 shares in the last quarter. Janus Henderson Group PLC grew its holdings in PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after buying an additional 34,633 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its holdings in PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after buying an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after buying an additional 5,220 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP opened at $156.42 on Wednesday. The stock has a fifty day moving average of $148.62 and a 200-day moving average of $161.87. The firm has a market capitalization of $214.53 billion, a P/E ratio of 22.51, a PEG ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. 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 released its 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. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.47%. PepsiCo’s dividend payout ratio is 77.99%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports 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. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. HSBC decreased their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Finally, 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 research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and an average target price 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.