Canvas Wealth Advisors LLC Purchases 122 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Canvas Wealth Advisors LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,183 shares of the company’s stock after acquiring an additional 122 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in PepsiCo were worth $335,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

PEP has been the subject of a number of recent analyst reports. UBS Group decreased their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. BNP Paribas lowered their target price on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. HSBC cut their price target on PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. 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, JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Down 0.5 %

Shares of PepsiCo stock opened at $144.58 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.70 and a debt-to-equity ratio of 2.05. The stock has a fifty day simple moving average of $151.42 and a 200 day simple moving average of $164.09. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a market capitalization of $198.29 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period last year, the firm earned $1.78 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared 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 3.75%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 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.