Castlekeep Investment Advisors LLC Buys Shares of 1,143,643 PepsiCo, Inc. (NASDAQ:PEP)

Castlekeep Investment Advisors LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,143,643 shares of the company's stock, valued at approximately $173,902,000. PepsiCo comprises about 1.1% of Castlekeep Investment Advisors LLC's holdings, making the stock its 25th biggest holding. Castlekeep Investment Advisors LLC owned 0.08% of PepsiCo at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Collier Financial purchased a new stake in shares of PepsiCo during the 4th quarter worth about $28,000. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the fourth quarter worth $28,000. Creative Capital Management Investments LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $30,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo in the 4th quarter valued at about $30,000. Finally, Summit Securities Group LLC purchased a new stake in PepsiCo during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Up 0.9 %

Shares of NASDAQ:PEP traded up $1.17 during trading hours on Wednesday, reaching $131.91. The stock had a trading volume of 6,312,878 shares, compared to its average volume of 6,259,375. PepsiCo, Inc. has a 1 year low of $130.16 and a 1 year high of $183.41. The firm's 50 day moving average is $145.13 and its 200-day moving average is $151.78. The stock has a market capitalization of $180.85 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.09 and a beta of 0.47. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the prior year, the company earned $1.61 earnings per share. The business's revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $1.4225 dividend. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's payout ratio is currently 79.71%.

Analysts Set New Price Targets

Several research firms recently commented on PEP. TD Cowen reduced their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Barclays decreased their price target on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $163.00 price objective on shares of PepsiCo in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Finally, HSBC reduced their price objective on PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $160.69.

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.