Broadway Wealth Solutions Inc. Purchases Shares of 2,478 PepsiCo, Inc. (NASDAQ:PEP)

Broadway Wealth Solutions Inc. purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 2,478 shares of the company’s stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares during the period. State Street Corp grew its position in PepsiCo by 5.1% in the third 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 grew its stake in shares of PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after buying an additional 543,558 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of PepsiCo during the 4th quarter worth about $2,729,565,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $149.67 on Friday. The firm has a fifty day moving average price of $149.23 and a 200 day moving average price of $158.37. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The stock has a market cap of $205.27 billion, a PE ratio of 21.54, 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 current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.78 earnings per share. As a group, sell-side 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 given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. TD Cowen cut their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Morgan Stanley cut their price objective on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. UBS Group decreased their price objective on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Royal Bank of Canada began coverage on shares of PepsiCo in a research note on Tuesday, February 4th. They issued a $172.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $169.88.

About PepsiCo

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.