Investment Management Corp of Ontario Grows Holdings in PepsiCo, Inc. $PEP

Investment Management Corp of Ontario raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 40.6% in the 4th quarter, Holdings Channel reports. The fund owned 123,281 shares of the company’s stock after acquiring an additional 35,570 shares during the quarter. Investment Management Corp of Ontario’s holdings in PepsiCo were worth $17,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cypress Capital Management LLC WY raised its stake in PepsiCo by 8.3% during the 4th quarter. Cypress Capital Management LLC WY now owns 838 shares of the company’s stock valued at $121,000 after acquiring an additional 64 shares during the last quarter. United Bank raised its stake in PepsiCo by 3.9% during the 4th quarter. United Bank now owns 1,717 shares of the company’s stock valued at $246,000 after acquiring an additional 65 shares during the last quarter. Koa Wealth Management LLC raised its stake in PepsiCo by 0.9% during the 4th quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock valued at $1,149,000 after acquiring an additional 68 shares during the last quarter. Pettinga Financial Advisors LLC raised its position in PepsiCo by 3.8% during the 4th quarter. Pettinga Financial Advisors LLC now owns 1,880 shares of the company’s stock worth $270,000 after buying an additional 68 shares during the last quarter. Finally, Tiemann Investment Advisors LLC raised its position in PepsiCo by 4.0% during the 3rd quarter. Tiemann Investment Advisors LLC now owns 1,807 shares of the company’s stock worth $254,000 after buying an additional 70 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price objective on shares of PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. TD Cowen cut their price objective on shares of PepsiCo from $165.00 to $150.00 and set a “hold” rating for the company in a research report on Friday, June 12th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Barclays increased their target price on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $167.35.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo highlighted its income appeal after announcing its 54th consecutive annual dividend increase, reinforcing the stock’s status as a defensive, yield-focused holding for investors. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo also debuted a new limited-edition soda, which may support near-term brand engagement and incremental sales. PepsiCo just debuted a new limited-edition soda that’s guaranteed to sell out
• Neutral Sentiment: PepsiCo’s sustainability chief, Jim Andrew, is slated to speak at an upcoming climate summit, keeping the company visible on ESG issues but with limited direct stock impact. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling more modest upside expectations for the shares. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why
• Negative Sentiment: News that a senior PepsiCo marketing executive stepped down after 13 years may add a small amount of leadership uncertainty, though the impact appears limited. PepsiCo Senior Director Maneesha Khanna steps down after 13 years

PepsiCo Stock Performance

Shares of PEP opened at $141.59 on Thursday. The company has a 50-day simple moving average of $150.38 and a 200-day simple moving average of $152.36. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $193.52 billion, a PE ratio of 22.23, a P/E/G ratio of 2.65 and a beta of 0.35. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, June 5th. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is 92.94%.

About PepsiCo

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.