Partners Wealth Management LLC Invests $466,000 in PepsiCo, Inc. (NASDAQ:PEP)

Partners Wealth Management LLC purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,065 shares of the company’s stock, valued at approximately $466,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. State Street Corp boosted its stake 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 valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its position in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares during the period. Franklin Resources Inc. raised its position in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of a number of research reports. Morgan Stanley decreased their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. TD Cowen cut their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Citigroup lowered their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, Piper Sandler started coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target on the stock. One 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Price Performance

PEP opened at $153.50 on Monday. The company’s 50-day simple moving average is $148.66 and its two-hundred day simple moving average is $162.11. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a market capitalization of $210.53 billion, a P/E ratio of 22.09, a P/E/G ratio of 3.09 and a beta of 0.54. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $1.78 earnings per share. As a group, analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 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.