3,255 Shares in PepsiCo, Inc. (NASDAQ:PEP) Purchased by Steele Capital Management Inc.

Steele Capital Management Inc. bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, Holdings Channel reports. The fund bought 3,255 shares of the company’s stock, valued at approximately $553,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Altrius Capital Management Inc boosted its holdings in PepsiCo by 4.4% in the 4th quarter. Altrius Capital Management Inc now owns 20,024 shares of the company’s stock valued at $3,401,000 after purchasing an additional 842 shares during the period. Adell Harriman & Carpenter Inc. boosted its holdings in PepsiCo by 0.6% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 98,712 shares of the company’s stock valued at $16,765,000 after purchasing an additional 567 shares during the period. Orca Investment Management LLC boosted its holdings in PepsiCo by 9.6% in the 4th quarter. Orca Investment Management LLC now owns 4,081 shares of the company’s stock valued at $693,000 after purchasing an additional 359 shares during the period. Naviter Wealth LLC lifted its holdings in shares of PepsiCo by 8.3% during the 4th quarter. Naviter Wealth LLC now owns 13,638 shares of the company’s stock worth $2,330,000 after acquiring an additional 1,044 shares during the period. Finally, Choreo LLC lifted its holdings in shares of PepsiCo by 6.6% during the 4th quarter. Choreo LLC now owns 31,783 shares of the company’s stock worth $5,438,000 after acquiring an additional 1,958 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PEP shares. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Monday, March 18th. Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their price target for the stock from $180.00 to $195.00 in a report on Monday, February 12th. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group increased their price objective on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $180.00 price target on shares of PepsiCo in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Trading Up 0.3 %

Shares of PEP traded up $0.56 during trading hours on Monday, hitting $176.14. 3,224,217 shares of the stock were exchanged, compared to its average volume of 5,823,218. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The business has a 50-day moving average of $169.40 and a 200-day moving average of $167.92. The firm has a market capitalization of $242.15 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.86 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same period in the prior year, the company posted $1.50 earnings per share. PepsiCo’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

PepsiCo Company 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.