Scotia Capital Inc. Purchases 13,720 Shares of PepsiCo, Inc. $PEP

Scotia Capital Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 789,887 shares of the company’s stock after buying an additional 13,720 shares during the quarter. Scotia Capital Inc.’s holdings in PepsiCo were worth $104,293,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Claris Advisors LLC MO lifted its holdings in shares of PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock valued at $329,000 after acquiring an additional 308 shares during the period. Foster Group Inc. increased its position in shares of PepsiCo by 4.6% during the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after purchasing an additional 229 shares in the last quarter. Merit Financial Group LLC lifted its holdings in PepsiCo by 46.4% during the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares during the last quarter. Fulton Bank N.A. boosted its position in PepsiCo by 2.5% in the second quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after buying an additional 620 shares in the last quarter. Finally, Naples Global Advisors LLC grew its stake in PepsiCo by 2.3% during the second quarter. Naples Global Advisors LLC now owns 26,270 shares of the company’s stock worth $3,469,000 after buying an additional 592 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PepsiCo stock opened at $147.98 on Friday. The stock has a market cap of $202.34 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $165.13. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 2.26. The business’s 50-day simple moving average is $145.87 and its 200 day simple moving average is $140.90.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 EPS. As a group, research 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 Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.8%. PepsiCo’s payout ratio is presently 108.17%.

Analyst Ratings Changes

Several research analysts have recently commented on PEP shares. HSBC boosted their target price on PepsiCo from $145.00 to $152.00 and gave the stock a “hold” rating in a report on Friday, October 10th. UBS Group reduced their price objective on PepsiCo from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, September 11th. Piper Sandler lowered their target price on PepsiCo from $162.00 to $161.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. Wells Fargo & Company upped their price target on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Finally, The Goldman Sachs Group raised their price objective on shares of PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $156.90.

PepsiCo 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.