PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Summit Financial LLC

Summit Financial LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 41.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,110 shares of the company’s stock after purchasing an additional 7,660 shares during the quarter. Summit Financial LLC’s holdings in PepsiCo were worth $3,997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. State Street Corp increased its holdings in shares of PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of PepsiCo in the 4th quarter valued at about $2,729,565,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.4 %

NASDAQ:PEP opened at $149.94 on Tuesday. The stock has a 50-day simple moving average of $149.28 and a 200 day simple moving average of $157.72. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a market capitalization of $205.64 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. TD Cowen cut their price target on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. UBS Group reduced their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. 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. Finally, Piper Sandler assumed coverage on PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PepsiCo currently has an average rating of “Hold” and a consensus price target of $169.88.

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.