44 Wealth Management LLC Sells 10,539 Shares of PepsiCo, Inc. $PEP

44 Wealth Management LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 69.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,623 shares of the company’s stock after selling 10,539 shares during the quarter. 44 Wealth Management LLC’s holdings in PepsiCo were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Three Bridge Wealth Advisors LLC grew its stake in shares of PepsiCo by 1.8% in the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 3,870 shares of the company’s stock worth $544,000 after buying an additional 68 shares during the last quarter. Facet Wealth Inc. raised its stake in PepsiCo by 3.2% during the third quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock valued at $312,000 after buying an additional 69 shares during the last quarter. Hudock Inc. boosted its holdings in PepsiCo by 1.0% in the third quarter. Hudock Inc. now owns 7,079 shares of the company’s stock worth $994,000 after acquiring an additional 70 shares in the last quarter. Delta Asset Management LLC TN grew its stake in shares of PepsiCo by 0.6% in the third quarter. Delta Asset Management LLC TN now owns 11,000 shares of the company’s stock worth $1,545,000 after acquiring an additional 70 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in shares of PepsiCo by 2.8% during the third quarter. Westside Investment Management Inc. now owns 2,602 shares of the company’s stock valued at $366,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of a number of analyst reports. Piper Sandler upped their price target on shares of PepsiCo from $172.00 to $181.00 and gave the stock an “overweight” rating in a research note on Thursday. BNP Paribas Exane reaffirmed an “outperform” rating on shares of PepsiCo in a report on Wednesday, February 4th. Citigroup upped their target price on shares of PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Rothschild & Co Redburn raised their price target on shares of PepsiCo from $120.00 to $130.00 and gave the company a “sell” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $169.00.

PepsiCo Stock Performance

PEP opened at $159.88 on Friday. The company’s 50 day moving average is $156.71 and its 200 day moving average is $149.69. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The company has a market cap 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.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, February 2nd. The company reported $2.26 EPS 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 business had revenue of $29.34 billion during the quarter, compared to analysts’ expectations of $28.96 billion. During the same period in the prior year, the company earned $1.96 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

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

PepsiCo declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 3rd that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

PepsiCo Company Profile

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.