Carret Asset Management LLC Purchases 555 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Carret Asset Management LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 62,556 shares of the company’s stock after acquiring an additional 555 shares during the period. PepsiCo accounts for approximately 1.4% of Carret Asset Management LLC’s portfolio, making the stock its 12th largest holding. Carret Asset Management LLC’s holdings in PepsiCo were worth $10,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after buying an additional 3,026,611 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of PepsiCo during the third quarter valued at about $329,179,000. Flossbach Von Storch AG increased its position in shares of PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after buying an additional 1,495,586 shares during the period. California Public Employees Retirement System increased its position in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after buying an additional 1,470,064 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of PepsiCo by 68.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock valued at $496,382,000 after buying an additional 1,183,371 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $187.33.

PepsiCo Trading Up 3.6 %

Shares of NASDAQ:PEP traded up $6.19 during trading on Wednesday, reaching $177.41. 10,011,958 shares of the company traded hands, compared to its average volume of 5,852,656. The firm has a market capitalization of $243.85 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.77 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02. The business’s fifty day moving average is $168.84 and its 200-day moving average is $167.63.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 earnings per share. As a group, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Thursday, February 29th. PepsiCo’s payout ratio is 77.02%.

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.