Trueblood Wealth Management LLC Takes $890,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Trueblood Wealth Management LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,243 shares of the company’s stock, valued at approximately $890,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Proquility Private Wealth Partners LLC lifted its holdings in PepsiCo by 1.1% during the 4th quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock worth $950,000 after buying an additional 57 shares during the period. Amplius Wealth Advisors LLC lifted its holdings in PepsiCo by 2.8% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after buying an additional 60 shares during the period. Darwin Wealth Management LLC lifted its holdings in PepsiCo by 2.7% during the 3rd quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock worth $397,000 after buying an additional 61 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after buying an additional 61 shares during the period. Finally, Cassia Capital Partners LLC lifted its holdings in PepsiCo by 1.5% during the 3rd quarter. Cassia Capital Partners LLC now owns 4,143 shares of the company’s stock worth $702,000 after buying an additional 63 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock traded up $1.44 during mid-day trading on Thursday, hitting $175.01. 5,623,770 shares of the stock were exchanged, compared to its average volume of 5,941,032. The stock has a market capitalization of $240.55 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.70 and a beta of 0.53. The business has a fifty day moving average price of $167.96 and a 200 day moving average price of $167.95. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.85 and a quick ratio of 0.68. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The company had revenue of $27.84 billion for the quarter, compared to the consensus estimate of $28.40 billion. During the same quarter in the previous year, the business earned $1.67 EPS. PepsiCo’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a dividend of $1.265 per share. The ex-dividend date is Thursday, February 29th. This represents a $5.06 annualized dividend and a yield of 2.89%. PepsiCo’s payout ratio is 77.02%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PEP shares. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. Wedbush reaffirmed an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Friday, February 9th. JPMorgan Chase & Co. lowered PepsiCo from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $185.00 to $176.00 in a report on Tuesday, December 19th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a report on Friday, February 9th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $187.77.

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.