NewEdge Wealth LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,193 shares of the company’s stock after buying an additional 996 shares during the quarter. NewEdge Wealth LLC’s holdings in PepsiCo were worth $5,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC boosted its holdings in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after purchasing an additional 8,406 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the period. Janus Henderson Group PLC increased its position in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the period. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in PepsiCo by 19.3% during the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after buying an additional 5,220 shares during the period. 73.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on PEP shares. Wells Fargo & Company cut their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. HSBC lowered their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Finally, Barclays decreased their price objective on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $171.47.
PepsiCo Trading Up 0.3 %
Shares of PEP stock opened at $152.02 on Friday. The stock has a market cap of $208.50 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm’s 50 day moving average price is $148.57 and its two-hundred day moving average price is $161.73.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.57%. PepsiCo’s payout ratio is 77.99%.
PepsiCo 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.
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