Rossmore Private Capital Increases Stock Holdings in PepsiCo, Inc. $PEP

Rossmore Private Capital boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 34,711 shares of the company’s stock after purchasing an additional 4,665 shares during the period. Rossmore Private Capital’s holdings in PepsiCo were worth $5,031,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PEP. JCIC Asset Management Inc. acquired a new stake in PepsiCo in the 3rd quarter valued at about $27,000. MH & Associates Securities Management Corp ADV acquired a new stake in PepsiCo in the 4th quarter valued at about $29,000. Imprint Wealth LLC acquired a new stake in PepsiCo in the 3rd quarter valued at about $31,000. Strategic Advocates LLC acquired a new stake in PepsiCo in the 3rd quarter valued at about $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in PepsiCo in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Evercore increased their price target on PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Wall Street Zen lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. BNP Paribas Exane increased their price target on PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Rothschild & Co Redburn increased their price target on PepsiCo from $130.00 to $132.00 in a research report on Monday, May 11th. Finally, Piper Sandler raised their target price on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $170.37.

PepsiCo Stock Performance

PEP opened at $149.12 on Monday. The firm has a market cap of $203.81 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48. The business’s 50 day moving average is $155.25 and its two-hundred day moving average is $152.41. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, research analysts predict that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 4.0%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s dividend payout ratio is presently 89.32%.

PepsiCo declared that its board has approved a stock repurchase program on Tuesday, February 3rd that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.