Keene & Associates Inc. Purchases 780 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Keene & Associates Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,877 shares of the company’s stock after acquiring an additional 780 shares during the period. PepsiCo comprises approximately 2.4% of Keene & Associates Inc.’s holdings, making the stock its 20th largest position. Keene & Associates Inc.’s holdings in PepsiCo were worth $3,023,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Highline Wealth Partners LLC bought a new stake in PepsiCo during the third quarter worth $28,000. Collier Financial purchased a new position in PepsiCo during the 4th quarter worth $28,000. Creative Capital Management Investments LLC bought a new stake in shares of PepsiCo in the 4th quarter worth $30,000. Legacy Investment Solutions LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $31,000. Finally, Rakuten Securities Inc. boosted its holdings in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Evercore ISI dropped their price target on PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. Finally, StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $171.47.

PepsiCo Price Performance

PEP stock opened at $144.10 on Wednesday. The firm has a 50 day moving average of $149.48 and a 200-day moving average of $162.84. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $197.63 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 2.95 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same period in the previous year, the business earned $1.78 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio 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.