PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.0% in the fourth quarter, Holdings Channel reports. The fund owned 25,126 shares of the company’s stock after purchasing an additional 969 shares during the period. Congress Wealth Management LLC DE’s holdings in PepsiCo were worth $3,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of PepsiCo during the 4th quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. lifted its stake in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. State Street Corp grew its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the period. Franklin Resources Inc. raised its holdings in PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the period. Finally, Vanguard Group Inc. boosted its stake in PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after buying an additional 1,376,133 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.6 %

PEP opened at $145.54 on Wednesday. The stock has a market capitalization of $199.61 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The business’s 50-day simple moving average is $149.09 and its 200-day simple moving average is $158.50.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the company earned $1.78 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 3.72%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PEP shares. Citigroup lowered their price objective on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Piper Sandler initiated coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price for the company. Royal Bank of Canada initiated coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price target on the stock. Finally, Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and dropped their price objective for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $169.88.

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.