Absher Wealth Management LLC Has $32.61 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Absher Wealth Management LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 214,431 shares of the company’s stock after purchasing an additional 9,960 shares during the period. PepsiCo makes up 4.3% of Absher Wealth Management LLC’s portfolio, making the stock its 4th biggest position. Absher Wealth Management LLC’s holdings in PepsiCo were worth $32,606,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock worth $547,626,000 after purchasing an additional 3,201,676 shares in the last quarter. State Street Corp lifted its holdings in shares of PepsiCo by 5.1% in 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 period. Franklin Resources Inc. increased its stake in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after buying an additional 2,264,445 shares during the period. Swedbank AB raised its holdings in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after acquiring an additional 1,125,059 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.5 %

Shares of NASDAQ PEP opened at $145.66 on Thursday. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The company’s 50-day simple moving average is $152.49 and its 200-day simple moving average is $164.53. The firm has a market cap of $199.84 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. PepsiCo’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. Equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.72%. PepsiCo’s dividend payout ratio (DPR) is presently 79.94%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PEP shares. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley reduced their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group reduced their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Barclays reduced their price objective on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada began coverage on PepsiCo in a research note on Tuesday. They set a $172.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $171.76.

About PepsiCo

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.