Convergence Investment Partners LLC Purchases 4,141 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Convergence Investment Partners LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 145.8% during the 4th quarter, HoldingsChannel reports. The firm owned 6,981 shares of the company’s stock after buying an additional 4,141 shares during the period. Convergence Investment Partners LLC’s holdings in PepsiCo were worth $1,186,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA increased its stake in PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after acquiring an additional 70 shares during the last quarter. Life Planning Partners Inc bought a new position in PepsiCo in the fourth quarter valued at $34,000. Naples Money Management LLC bought a new position in PepsiCo in the fourth quarter valued at $36,000. Criterion Capital Advisors LLC bought a new position in PepsiCo in the fourth quarter valued at $39,000. Finally, Avion Wealth grew its stake in shares of PepsiCo by 61.7% during the fourth quarter. Avion Wealth now owns 241 shares of the company’s stock valued at $41,000 after buying an additional 92 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent research reports. Barclays raised their price objective on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.42.

PepsiCo Stock Down 0.6 %

PEP traded down $1.10 on Friday, hitting $175.58. The company had a trading volume of 4,472,102 shares, compared to its average volume of 5,365,961. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $196.88. The stock has a fifty day simple moving average of $169.40 and a 200-day simple moving average of $167.88. The firm has a market capitalization of $241.39 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.86 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same period last year, the business posted $1.50 earnings per share. PepsiCo’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.265 dividend. The ex-dividend date was Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 2.88%. PepsiCo’s dividend payout ratio (DPR) is presently 76.09%.

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.