Ausdal Financial Partners Inc. Boosts Stake in PepsiCo, Inc. $PEP

Ausdal Financial Partners Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 29.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,110 shares of the company’s stock after acquiring an additional 3,885 shares during the quarter. Ausdal Financial Partners Inc.’s holdings in PepsiCo were worth $2,403,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PEP. JCIC Asset Management Inc. purchased a new position in PepsiCo in the third quarter valued at about $27,000. Evolution Wealth Management Inc. purchased a new stake in shares of PepsiCo during the second quarter valued at about $27,000. Imprint Wealth LLC bought a new stake in shares of PepsiCo in the 3rd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC grew its position in shares of PepsiCo by 107.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC raised its stake in shares of PepsiCo by 667.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 238 shares of the company’s stock worth $33,000 after acquiring an additional 207 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.6%

Shares of PepsiCo stock opened at $159.88 on Monday. The firm’s 50 day simple moving average is $156.71 and its two-hundred day simple moving average is $149.71. The firm has a market capitalization of $218.50 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.07 and a beta of 0.39. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $171.48. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Monday, February 2nd. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. The firm had revenue of $29.34 billion for the quarter, compared to analyst estimates of $28.96 billion. During the same period in the previous year, the company earned $1.96 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo announced that its Board of Directors has approved a share buyback plan on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, March 6th. PepsiCo’s payout ratio is presently 94.83%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup raised their target price on shares of PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. TD Cowen upped their price target on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a research report on Friday, February 20th. Piper Sandler raised their price objective on PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on PepsiCo from $164.00 to $176.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Finally, Rothschild & Co Redburn upped their target price on PepsiCo from $120.00 to $130.00 and gave the company a “sell” rating in a research report on Tuesday, February 10th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $169.00.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.