Drum Hill Capital LLC Acquires Shares of 1,969 PepsiCo, Inc. (NASDAQ:PEP)

Drum Hill Capital LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,969 shares of the company's stock, valued at approximately $299,000.

A number of other hedge funds have also recently added to or reduced their stakes in PEP. Cross Staff Investments Inc lifted its holdings in PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company's stock worth $1,204,000 after purchasing an additional 60 shares during the last quarter. Paulson Wealth Management Inc. raised its position in shares of PepsiCo by 2.1% in the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company's stock valued at $508,000 after purchasing an additional 60 shares during the period. LCM Capital Management Inc lifted its stake in shares of PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company's stock worth $1,288,000 after buying an additional 62 shares during the last quarter. Demars Financial Group LLC raised its holdings in PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company's stock worth $973,000 after acquiring an additional 62 shares during the period. Finally, Sigma Investment Counselors Inc. lifted its position in PepsiCo by 1.6% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company's stock worth $733,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PEP shares. TD Cowen lowered their price target on PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. Morgan Stanley reduced their price objective on PepsiCo from $185.00 to $168.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an "overweight" rating and a $171.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of PepsiCo from $184.00 to $178.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo has an average rating of "Hold" and a consensus target price of $171.47.

PepsiCo Stock Up 3.0 %

NASDAQ PEP opened at $153.50 on Friday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a market capitalization of $210.53 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 3.02 and a beta of 0.54. The stock's 50 day moving average is $148.75 and its two-hundred day moving average is $162.39. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the previous year, the firm earned $1.78 EPS. PepsiCo's quarterly revenue was down .2% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.31 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo's dividend payout ratio (DPR) is currently 77.99%.

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.

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