Noble Wealth Management PBC Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

Noble Wealth Management PBC purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 261 shares of the company’s stock, valued at approximately $40,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Franklin Resources Inc. boosted its holdings in PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. Swedbank AB boosted its holdings in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. Van ECK Associates Corp boosted its holdings in PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock worth $258,158,000 after purchasing an additional 1,328,672 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in PepsiCo by 62.4% in the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock worth $458,324,000 after purchasing an additional 1,157,835 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Morgan Stanley decreased their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. HSBC decreased their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada began coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 price target on the stock. Finally, BNP Paribas decreased their price target on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $153.47 on Friday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market cap of $210.48 billion, a P/E ratio of 22.08, a P/E/G ratio of 3.09 and a beta of 0.54. The firm’s fifty day moving average is $148.59 and its two-hundred day moving average is $161.53. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last announced 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 company 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%. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.53%. PepsiCo’s dividend payout ratio is currently 77.99%.

PepsiCo 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.