Opal Capital LLC Acquires New Stake in PepsiCo, Inc. $PEP

Key Points

• Opal Capital LLC opened a new position in PepsiCo during the fourth quarter, buying 44,033 shares worth about $6.35 million. PepsiCo now represents 1.6% of the firm’s portfolio.
• PepsiCo continues to attract institutional interest, with hedge funds and other investors owning 73.07% of the stock. Several smaller firms also reported new stakes in the company last quarter.
• The company recently boosted its quarterly dividend to $1.48 per share, or $5.92 annually, for a 4.1% yield. PepsiCo also beat quarterly earnings and revenue estimates, though analysts remain mixed with an overall Hold rating.

Opal Capital LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,033 shares of the company's stock, valued at approximately $6,351,000. PepsiCo accounts for 1.6% of Opal Capital LLC's investment portfolio, making the stock its 22nd biggest position.

Several other large investors also recently bought and sold shares of PEP. Swiss RE Ltd. purchased a new stake in PepsiCo during the 4th quarter worth about $28,000. MH & Associates Securities Management Corp ADV purchased a new stake in PepsiCo during the 4th quarter worth about $29,000. Imprint Wealth LLC purchased a new stake in PepsiCo during the 3rd quarter worth about $31,000. Strategic Advocates LLC purchased a new stake in PepsiCo during the 3rd quarter worth about $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in PepsiCo during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

Trending Headlines about PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced its 54th consecutive annual dividend increase, reinforcing its appeal as a defensive, income-generating stock at a time when Treasury yields are elevated. PepsiCo’s 3.9% Yield Is a Safe-Haven Masterclass
• Positive Sentiment: PepsiCo debuted a new limited-edition soda, which could help drive short-term consumer interest and support beverage sales. PepsiCo just debuted a new limited-edition soda that's guaranteed to sell out
• Positive Sentiment: PepsiCo continues to highlight future growth initiatives, including experiential drinks and regenerative farming partnerships, which suggest management is still investing in new revenue streams. PepsiCo Targets Experiential Drinks And Regenerative Farming For Future Growth
• Neutral Sentiment: PepsiCo senior director Maneesha Khanna stepped down after 13 years; this looks like a personnel change rather than a material business event. PepsiCo Senior Director Maneesha Khanna steps down after 13 years
• Neutral Sentiment: PepsiCo was mentioned in articles about broader S&P 500 ideas and sustainability events, but those items do not appear to change the company’s near-term fundamentals. Sustainability LIVE Announces Final Week to Register for The Leadership Summit
• Negative Sentiment: Piper Sandler lowered its price target on PepsiCo, which can weigh on sentiment by signaling a more cautious outlook for the stock’s upside. PepsiCo (PEP) Price Target Lowered at Piper Sandler. Here is Why

PepsiCo Stock Down 0.1%

PEP opened at $146.12 on Wednesday. The business has a 50 day moving average price of $150.68 and a two-hundred day moving average price of $152.40. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The company has a market cap of $199.71 billion, a PE ratio of 22.94, a P/E/G ratio of 2.65 and a beta of 0.35. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.55 by $0.06. The firm had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm's revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 4.1%. This is a boost from PepsiCo's previous quarterly dividend of $1.42. PepsiCo's dividend payout ratio (DPR) is currently 92.94%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PEP shares. JPMorgan Chase & Co. upped their price target on PepsiCo from $172.00 to $178.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Barclays upped their price target on PepsiCo from $154.00 to $158.00 and gave the stock an "equal weight" rating in a report on Monday, April 20th. Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $169.00 to $173.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. The Goldman Sachs Group upped their price objective on PepsiCo from $180.00 to $183.00 and gave the stock a "buy" rating in a research report on Friday, April 17th. Finally, TD Cowen lowered their price objective on PepsiCo from $165.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, June 12th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $167.35.

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.