Naviter Wealth LLC Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Naviter Wealth LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,635 shares of the company’s stock after purchasing an additional 1,282 shares during the period. Naviter Wealth LLC’s holdings in PepsiCo were worth $2,552,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PEP. Collier Financial purchased a new stake in PepsiCo in the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC purchased a new position in shares of PepsiCo during the 4th quarter valued at approximately $30,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo during the 3rd quarter valued at approximately $31,000. Rakuten Securities Inc. lifted its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC purchased a new position in shares of PepsiCo during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Evercore ISI reduced their price objective on PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. Barclays increased their price objective on PepsiCo from $153.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Citigroup reduced their price objective on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $172.35.

PepsiCo Stock Down 0.1 %

Shares of NASDAQ:PEP opened at $154.44 on Friday. The business has a 50-day moving average price of $148.80 and a 200 day moving average price of $160.96. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a market capitalization of $211.81 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 3.09 and a beta of 0.52. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating 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 company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same period last year, the business posted $1.78 EPS. PepsiCo’s revenue for the quarter was down .2% on a year-over-year basis. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

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.