Wealth Enhancement Advisory Services LLC Has $177.32 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 16.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,166,089 shares of the company’s stock after acquiring an additional 167,122 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.08% of PepsiCo worth $177,315,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hudson Valley Investment Advisors Inc. ADV boosted its position in PepsiCo by 12.8% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock valued at $6,323,000 after acquiring an additional 4,712 shares during the last quarter. Michael S. Ryan Inc. lifted its stake in PepsiCo by 3.3% in the fourth quarter. Michael S. Ryan Inc. now owns 2,239 shares of the company’s stock valued at $340,000 after buying an additional 71 shares during the period. Legacy Private Trust Co. grew its holdings in PepsiCo by 73.4% in the fourth quarter. Legacy Private Trust Co. now owns 8,415 shares of the company’s stock worth $1,280,000 after purchasing an additional 3,561 shares during the period. Farmers Trust Co. raised its holdings in shares of PepsiCo by 0.6% during the fourth quarter. Farmers Trust Co. now owns 51,197 shares of the company’s stock valued at $7,785,000 after purchasing an additional 315 shares during the period. Finally, Douglas Lane & Associates LLC raised its stake in PepsiCo by 10.0% during the 4th quarter. Douglas Lane & Associates LLC now owns 220,922 shares of the company’s stock worth $33,593,000 after buying an additional 20,016 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEP. TD Cowen cut their target price on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday. They issued an “overweight” rating and a $171.00 price target on the stock. Bank of America lowered their target price on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada dropped their price target on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $180.64.

PepsiCo Trading Down 2.8 %

Shares of NASDAQ:PEP traded down $4.04 during trading hours on Friday, hitting $142.50. 2,584,242 shares of the company’s stock traded hands, compared to its average volume of 6,053,061. PepsiCo, Inc. has a 1 year low of $142.38 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a market capitalization of $195.51 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The business has a fifty day moving average price of $157.81 and a 200-day moving average price of $166.68.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm had revenue of $23.32 billion during the quarter, compared to analyst estimates of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Friday, December 6th. PepsiCo’s payout ratio is currently 79.94%.

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.