Bank of Nova Scotia Increases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Bank of Nova Scotia increased its holdings in PepsiCo, Inc. (NASDAQ:PEPFree Report) by 76.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 528,174 shares of the company’s stock after purchasing an additional 228,962 shares during the quarter. Bank of Nova Scotia’s holdings in PepsiCo were worth $89,700,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in PepsiCo by 59.4% in the fourth quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock valued at $168,747,000 after purchasing an additional 370,122 shares during the last quarter. Harbour Capital Advisors LLC grew its position in shares of PepsiCo by 0.4% in the 4th quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock worth $4,747,000 after buying an additional 102 shares during the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in shares of PepsiCo during the 4th quarter worth approximately $405,000. Manchester Capital Management LLC lifted its position in PepsiCo by 1.4% during the third quarter. Manchester Capital Management LLC now owns 13,240 shares of the company’s stock valued at $2,243,000 after acquiring an additional 185 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in PepsiCo by 34.5% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after purchasing an additional 3,159 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Jefferies Financial Group lifted their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their price target for the company from $180.00 to $195.00 in a research note on Monday, February 12th. Finally, Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Moderate Buy” and a consensus target price of $187.58.

Get Our Latest Report on PepsiCo

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP traded up $2.42 on Friday, reaching $172.90. 8,155,606 shares of the company’s stock traded hands, compared to its average volume of 3,869,151. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The firm has a market cap of $237.70 billion, a price-to-earnings ratio of 26.00, a P/E/G ratio of 2.82 and a beta of 0.52. The stock has a 50 day moving average price of $174.70 and a 200-day moving average price of $170.37.

PepsiCo (NASDAQ:PEPGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. Equities research analysts predict that PepsiCo, Inc. will post 8.17 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.13%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. PepsiCo’s payout ratio is 76.09%.

PepsiCo Profile

(Free Report)

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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