Suncoast Equity Management Has $2.06 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Suncoast Equity Management grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% during the fourth quarter, HoldingsChannel reports. The firm owned 12,147 shares of the company’s stock after buying an additional 375 shares during the quarter. Suncoast Equity Management’s holdings in PepsiCo were worth $2,063,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. bought a new position in PepsiCo during the 3rd quarter worth approximately $25,000. LFA Lugano Financial Advisors SA raised its holdings in PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after purchasing an additional 70 shares during the last quarter. Life Planning Partners Inc bought a new position in PepsiCo during the 4th quarter worth approximately $34,000. Avion Wealth raised its holdings in PepsiCo by 61.7% during the 4th quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after purchasing an additional 92 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new position in PepsiCo during the 4th quarter worth approximately $44,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ PEP traded up $1.33 on Tuesday, reaching $168.28. 1,514,651 shares of the company’s stock traded hands, compared to its average volume of 5,705,810. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68. The stock has a 50-day simple moving average of $168.70 and a 200 day simple moving average of $167.38. The stock has a market cap of $231.30 billion, a PE ratio of 25.61, a P/E/G ratio of 2.64 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The firm had revenue of $27.84 billion for the quarter, compared to analysts’ expectations of $28.40 billion. During the same quarter last year, the business earned $1.67 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo’s payout ratio is 77.02%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a research note on Monday, February 12th. JPMorgan Chase & Co. downgraded shares of PepsiCo from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $185.00 to $176.00 in a research report on Tuesday, December 19th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Citigroup raised shares of PepsiCo from a “neutral” rating to a “buy” rating and increased their price target for the stock from $180.00 to $195.00 in a report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.92.

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.