Novem Group Takes $3.26 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Novem Group acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,441 shares of the company’s stock, valued at approximately $3,260,000.

Several other institutional investors and hedge funds have also made changes to their positions in PEP. WealthTrak Capital Management LLC acquired a new position in PepsiCo in the fourth quarter valued at $28,000. Collier Financial acquired a new position in PepsiCo in the fourth quarter valued at $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the fourth quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo in the fourth quarter valued at $30,000. Finally, Measured Risk Portfolios Inc. acquired a new position in PepsiCo in the fourth quarter valued at $31,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $131.80 on Wednesday. PepsiCo, Inc. has a fifty-two week low of $127.87 and a fifty-two week high of $182.13. The business has a 50 day moving average price of $140.72 and a two-hundred day moving average price of $149.07. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market cap of $180.71 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the business earned $1.61 EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date is Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PEP shares. HSBC dropped their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Bank of America dropped their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Citigroup dropped their price target on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Barclays dropped their price target on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. Finally, JPMorgan Chase & Co. upped their price target on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $160.69.

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.