Beacon Financial Group Sells 144 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Beacon Financial Group decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,623 shares of the company’s stock after selling 144 shares during the period. Beacon Financial Group’s holdings in PepsiCo were worth $1,920,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC grew its stake in PepsiCo by 1.8% during 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 5.6% in 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 purchasing an additional 1,125,059 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of PepsiCo by 2.7% during the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock valued at $2,057,359,000 after purchasing an additional 313,468 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

NASDAQ:PEP opened at $145.64 on Wednesday. The company has a market cap of $199.75 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week high of $183.41. The company has a fifty day simple moving average of $151.05 and a two-hundred day simple moving average of $163.87.

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

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.72%. PepsiCo’s dividend payout ratio is currently 77.99%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. HSBC lowered their price objective on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. BNP Paribas lowered their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Citigroup decreased their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $171.47.

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.