Legacy Wealth Asset Management LLC Makes New $733,000 Investment in PepsiCo, Inc. (NASDAQ:PEP)


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Legacy Wealth Asset Management LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, Holdings Channel.com reports. The firm purchased 4,940 shares of the company’s stock, valued at approximately $733,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Curi Capital purchased a new stake in PepsiCo during the 4th quarter worth about $271,000. Front Barnett Associates LLC lifted its holdings in shares of PepsiCo by 1.0% in the 4th quarter. Front Barnett Associates LLC now owns 128,214 shares of the company’s stock valued at $19,014,000 after purchasing an additional 1,244 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at about $365,000. Valley Brook Capital Group purchased a new stake in shares of PepsiCo in the 4th quarter valued at about $1,429,000. Finally, Lorne Steinberg Wealth Management Inc. purchased a new stake in shares of PepsiCo in the 4th quarter valued at about $246,000. 69.94% of the stock is owned by institutional investors.

Several analysts have recently weighed in on PEP shares. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a report on Friday, February 12th. Sanford C. Bernstein assumed coverage on PepsiCo in a research note on Tuesday, January 19th. They set an “underperform” rating and a $136.00 price objective for the company. Guggenheim reaffirmed a “buy” rating on shares of PepsiCo in a research note on Thursday, April 1st. Barclays raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price objective for the company in a research note on Monday, March 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on PepsiCo from $143.00 to $148.00 and gave the stock a “hold” rating in a research report on Wednesday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $147.40.

Shares of NASDAQ:PEP opened at $143.41 on Thursday. The business’s fifty day moving average price is $135.33 and its two-hundred day moving average price is $139.57. The stock has a market cap of $197.91 billion, a PE ratio of 28.40, a price-to-earnings-growth ratio of 3.63 and a beta of 0.57. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.77 and a current ratio of 0.93. PepsiCo, Inc. has a one year low of $126.53 and a one year high of $148.77.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, February 11th. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.02. The firm had revenue of $22.46 billion for the quarter, compared to analysts’ expectations of $22 billion. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. As a group, equities research analysts predict that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were issued a dividend of $1.0225 per share. This represents a $4.09 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Thursday, March 4th. PepsiCo’s dividend payout ratio (DPR) is presently 73.96%.

About PepsiCo

PepsiCo, Inc operates as a food and beverage company 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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