TD Asset Management Inc Has $163.33 Million Position in PepsiCo, Inc. $PEP

Key Points

• TD Asset Management Inc. trimmed its PepsiCo stake by 4.1% in the fourth quarter, but still held 1,138,054 shares valued at about $163.3 million.
• PepsiCo reported strong quarterly results, posting EPS of $1.61 versus estimates of $1.55 and revenue of $19.44 billion, which was above expectations and up 8.5% year over year.
• The company also raised its quarterly dividend to $1.48 per share from $1.42, implying an annualized yield of about 4.2%, while analysts currently rate the stock a consensus Hold.

TD Asset Management Inc reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,138,054 shares of the company's stock after selling 49,042 shares during the period. TD Asset Management Inc owned approximately 0.08% of PepsiCo worth $163,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors increased its stake in shares of PepsiCo by 3.6% in the 3rd quarter. Captrust Financial Advisors now owns 554,798 shares of the company's stock valued at $77,916,000 after purchasing an additional 19,218 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of PepsiCo by 11.4% in the 4th quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company's stock valued at $59,600,000 after purchasing an additional 42,335 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its stake in shares of PepsiCo by 622.3% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company's stock valued at $5,110,000 after purchasing an additional 30,674 shares during the last quarter. Allstate Corp increased its stake in shares of PepsiCo by 108.1% in the 4th quarter. Allstate Corp now owns 104,723 shares of the company's stock valued at $15,030,000 after purchasing an additional 54,405 shares during the last quarter. Finally, NEOS Investment Management LLC increased its stake in shares of PepsiCo by 65.8% in the 3rd quarter. NEOS Investment Management LLC now owns 577,111 shares of the company's stock valued at $81,049,000 after purchasing an additional 229,121 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price target on PepsiCo from $165.00 to $163.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 9th. Piper Sandler lifted their price target on PepsiCo from $172.00 to $181.00 and gave the company an "overweight" rating in a research note on Thursday, March 12th. Wall Street Zen lowered PepsiCo from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Barclays lifted their price target on PepsiCo from $154.00 to $158.00 and gave the company an "equal weight" rating in a research note on Monday, April 20th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PepsiCo in a research note on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $170.11.

PepsiCo Trading Down 0.3%

NASDAQ PEP opened at $142.15 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company has a market cap of $194.29 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.58 and a beta of 0.35. The business's fifty day moving average is $152.40 and its 200 day moving average is $152.58.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.48 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. PepsiCo's dividend payout ratio (DPR) is 92.94%.

PepsiCo Profile

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.

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