Modern Wealth Management LLC Purchases 5,009 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Modern Wealth Management LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 69.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,219 shares of the company’s stock after buying an additional 5,009 shares during the quarter. Modern Wealth Management LLC’s holdings in PepsiCo were worth $1,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Collier Financial purchased a new stake in PepsiCo in the fourth quarter worth $28,000. Creative Capital Management Investments LLC bought a new position in shares of PepsiCo in the fourth quarter worth about $30,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo in the 3rd quarter worth about $31,000. Bay Harbor Wealth Management LLC purchased a new stake in PepsiCo in the 4th quarter valued at about $34,000. Finally, Human Investing LLC bought a new position in PepsiCo in the 4th quarter worth about $39,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.6 %

PepsiCo stock opened at $145.54 on Wednesday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business has a fifty day moving average price of $149.09 and a 200-day moving average price of $158.50. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $199.61 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping 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 quarter last year, the company earned $1.78 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared 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 is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.72%. PepsiCo’s payout ratio is 77.99%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. HSBC decreased their price objective on PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $169.88.

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.