Steele Capital Management Inc. Invests $553,000 in PepsiCo, Inc. (NASDAQ:PEP)

Steele Capital Management Inc. acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,255 shares of the company’s stock, valued at approximately $553,000.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC raised its position in shares of PepsiCo by 59.4% in the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after buying an additional 370,122 shares during the period. Harbour Capital Advisors LLC raised its position in PepsiCo by 0.4% in the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after purchasing an additional 102 shares during the period. Meadow Creek Wealth Advisors LLC purchased a new position in PepsiCo in the fourth quarter valued at about $405,000. Manchester Capital Management LLC raised its position in PepsiCo by 1.4% in the third quarter. Manchester Capital Management LLC now owns 13,240 shares of the company’s stock valued at $2,243,000 after purchasing an additional 185 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC raised its position 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 valued at $2,091,000 after purchasing an additional 3,159 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the topic of several research reports. 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 report on Monday, March 18th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.42.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $0.56 during trading on Monday, hitting $176.14. The company had a trading volume of 3,224,217 shares, compared to its average volume of 5,823,218. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $196.88. 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 company has a market cap of $242.15 billion, a P/E ratio of 26.46, a PEG ratio of 2.86 and a beta of 0.53. The business’s 50-day moving average is $169.40 and its 200 day moving average is $167.92.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share 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 firm had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same period in the previous year, the company posted $1.50 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s dividend payout ratio is presently 76.09%.

PepsiCo Company Profile

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.