Miller Financial Services LLC Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

Miller Financial Services LLC acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,506 shares of the company’s stock, valued at approximately $1,141,000. PepsiCo accounts for approximately 1.0% of Miller Financial Services LLC’s portfolio, making the stock its 28th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB boosted its holdings in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares in the last quarter. Howard Capital Management Group LLC boosted its holdings in shares of PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock valued at $777,000 after purchasing an additional 90 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of PepsiCo by 19.7% in the 3rd quarter. Assetmark Inc. now owns 40,780 shares of the company’s stock valued at $6,935,000 after purchasing an additional 6,704 shares in the last quarter. Ashton Thomas Securities LLC boosted its holdings in shares of PepsiCo by 53.0% in the 3rd quarter. Ashton Thomas Securities LLC now owns 2,360 shares of the company’s stock valued at $401,000 after purchasing an additional 818 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new stake in shares of PepsiCo in the 3rd quarter valued at $1,612,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PEP stock opened at $156.25 on Tuesday. The stock has a 50-day moving average price of $148.89 and a 200-day moving average price of $160.62. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a market cap of $214.30 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates 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 last year, the company posted $1.78 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.47%. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEP. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Piper Sandler began coverage on PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. UBS Group lowered their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Citigroup lowered their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, Barclays upped their target price on PepsiCo from $153.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $172.35.

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.