Canoe Financial LP Buys 18,873 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Canoe Financial LP grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,240 shares of the company's stock after buying an additional 18,873 shares during the quarter. Canoe Financial LP's holdings in PepsiCo were worth $17,371,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company's stock worth $547,626,000 after buying an additional 3,201,676 shares during the period. State Street Corp grew its holdings in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company's stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. raised its holdings in PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the last quarter. Swedbank AB boosted its position in PepsiCo by 211.4% during the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company's stock valued at $398,847,000 after buying an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company's stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PEP stock traded up $1.71 during trading on Friday, reaching $148.25. The stock had a trading volume of 7,213,692 shares, compared to its average volume of 5,895,834. The firm has a market cap of $203.40 billion, a PE ratio of 21.87, a PEG ratio of 2.57 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock's 50 day moving average is $155.37 and its two-hundred day moving average is $165.83. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.66%. PepsiCo's dividend payout ratio is currently 79.94%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PEP shares. Bank of America dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set a "buy" rating for the company in a report on Monday, September 30th. UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a "buy" rating on the stock in a research report on Thursday. Morgan Stanley lowered PepsiCo from an "overweight" rating to an "equal weight" rating and set a $185.00 price target for the company. in a research note on Friday, September 20th. Redburn Atlantic upgraded shares of PepsiCo to a "strong sell" rating in a report on Thursday, October 10th. Finally, Piper Sandler initiated coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an "overweight" rating and a $171.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $178.60.

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.