Hudson Canyon Capital Management Raises Position in PepsiCo, Inc. (NASDAQ:PEP)

Hudson Canyon Capital Management boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 35.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,550 shares of the company’s stock after purchasing an additional 3,543 shares during the quarter. Hudson Canyon Capital Management’s holdings in PepsiCo were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PEP. GAM Holding AG acquired a new position in shares of PepsiCo in the 4th quarter valued at about $1,069,000. CIBC Asset Management Inc lifted its holdings in shares of PepsiCo by 2.2% during the 4th quarter. CIBC Asset Management Inc now owns 546,123 shares of the company’s stock valued at $83,043,000 after acquiring an additional 11,516 shares in the last quarter. Human Investing LLC purchased a new stake in PepsiCo during the 4th quarter worth $39,000. NTV Asset Management LLC increased its holdings in PepsiCo by 3.1% in the 4th quarter. NTV Asset Management LLC now owns 37,440 shares of the company’s stock valued at $5,693,000 after purchasing an additional 1,127 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of PepsiCo by 0.8% during the fourth quarter. Sanctuary Advisors LLC now owns 264,331 shares of the company’s stock worth $40,152,000 after purchasing an additional 2,064 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the topic of several analyst reports. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Royal Bank of Canada began coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective on the stock. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Evercore ISI dropped their price target on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Finally, Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Down 0.8 %

PepsiCo stock opened at $143.39 on Tuesday. The firm has a market capitalization of $196.66 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.89 and a beta of 0.54. The company has a 50-day simple moving average of $149.80 and a 200-day simple moving average of $163.06. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.70 and a current ratio of 0.82.

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 return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) 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.