Van Cleef Asset Management Inc Acquires 594 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Van Cleef Asset Management Inc raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,678 shares of the company’s stock after purchasing an additional 594 shares during the quarter. PepsiCo accounts for 1.4% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 16th largest position. Van Cleef Asset Management Inc’s holdings in PepsiCo were worth $13,028,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Paulson Wealth Management Inc. grew its holdings in PepsiCo by 2.1% during 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 increased its holdings in PepsiCo by 0.8% in the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after acquiring an additional 62 shares during the last quarter. Demars Financial Group LLC raised its stake in PepsiCo by 1.1% in the 3rd quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock valued at $973,000 after acquiring an additional 62 shares during the period. Tcfg Wealth Management LLC lifted its holdings in PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after purchasing an additional 66 shares during the last quarter. Finally, BIP Wealth LLC boosted its position in PepsiCo by 1.9% during the third quarter. BIP Wealth LLC now owns 3,601 shares of the company’s stock worth $612,000 after purchasing an additional 67 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price objective 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. Citigroup cut their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Morgan Stanley reduced their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Royal Bank of Canada started coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 price objective for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

NASDAQ PEP opened at $152.02 on Friday. The company has a 50-day simple moving average of $148.57 and a two-hundred day simple moving average of $161.73. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The firm has a market cap of $208.50 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.09 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.57%. PepsiCo’s dividend payout ratio 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.