Bay Harbor Wealth Management LLC Purchases New Shares in PepsiCo, Inc. (NASDAQ:PEP)

Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, Holdings Channel.com reports. The fund acquired 221 shares of the company’s stock, valued at approximately $34,000.

Other hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in PepsiCo during the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of PepsiCo during the third quarter valued at approximately $31,000. Rakuten Securities Inc. raised its holdings in shares of PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after buying an additional 96 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of PepsiCo during the 3rd quarter worth approximately $44,000. Finally, Global Wealth Strategies & Associates boosted its holdings in PepsiCo by 145.3% during the 4th quarter. Global Wealth Strategies & Associates now owns 390 shares of the company’s stock valued at $59,000 after acquiring an additional 231 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 2.6 %

NASDAQ PEP opened at $146.34 on Tuesday. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The firm has a market cap of $200.78 billion, a PE ratio of 21.62, a P/E/G ratio of 2.92 and a beta of 0.54. The business’s fifty day simple moving average is $153.12 and its 200-day simple moving average is $164.85. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.70%. PepsiCo’s payout ratio is 79.94%.

Analyst Upgrades and Downgrades

PEP has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler started coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $172.00 target price on shares of PepsiCo in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $176.73.

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.