Angeles Wealth Management LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Angeles Wealth Management LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,001 shares of the company’s stock after selling 133 shares during the quarter. Angeles Wealth Management LLC’s holdings in PepsiCo were worth $2,129,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cross Staff Investments Inc grew its stake in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after buying an additional 60 shares in the last quarter. Paulson Wealth Management Inc. grew its position in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after acquiring an additional 60 shares in the last quarter. LCM Capital Management Inc increased its stake in PepsiCo by 0.8% during the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares during the period. Demars Financial Group LLC lifted its position in shares of PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after purchasing an additional 62 shares in the last quarter. Finally, Sigma Investment Counselors Inc. grew its holdings in shares of PepsiCo by 1.6% in the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $144.58 on Monday. The company has a fifty day moving average of $151.42 and a two-hundred day moving average of $164.09. The company has a market capitalization of $198.29 billion, a PE ratio of 20.80, a P/E/G ratio of 2.89 and a beta of 0.54. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter last year, the business posted $1.78 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio is currently 77.99%.

Wall Street Analyst Weigh In

PEP has been the topic of a number of research reports. TD Cowen reduced their target price 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. Royal Bank of Canada started coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 target price for the company. Morgan Stanley cut their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Barclays decreased their price objective on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.47.

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.