PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Finer Wealth Management Inc.

Finer Wealth Management Inc. increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,757 shares of the company’s stock after buying an additional 210 shares during the period. PepsiCo accounts for 1.4% of Finer Wealth Management Inc.’s holdings, making the stock its 18th biggest position. Finer Wealth Management Inc.’s holdings in PepsiCo were worth $2,396,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PEP. Vanguard Group Inc. raised its position 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 acquiring an additional 1,376,133 shares during the period. Geode Capital Management LLC increased its stake in shares of PepsiCo by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after purchasing an additional 582,254 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Norges Bank purchased a new position in PepsiCo in the 4th quarter valued at about $2,729,565,000. Finally, Bank of New York Mellon Corp boosted its holdings in PepsiCo by 5.2% in the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after buying an additional 689,383 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 2.7 %

Shares of NASDAQ:PEP opened at $142.84 on Wednesday. The business has a 50-day moving average price of $148.34 and a 200 day moving average price of $155.43. PepsiCo, Inc. has a 12-month low of $138.33 and a 12-month high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $195.88 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 3.09 and a beta of 0.49.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.79%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analyst Ratings Changes

Several research firms have recently weighed in on PEP. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and decreased their target price for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. UBS Group lowered their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Evercore ISI lowered their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $168.12.

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.