Opes Wealth Management LLC Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Opes Wealth Management LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,825 shares of the company’s stock after acquiring an additional 96 shares during the quarter. Opes Wealth Management LLC’s holdings in PepsiCo were worth $430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo during the third quarter valued at approximately $28,000. Collier Financial bought a new position in PepsiCo during the fourth quarter valued at $28,000. Legacy Investment Solutions LLC bought a new position in PepsiCo during the third quarter valued at $31,000. Rakuten Securities Inc. grew its holdings in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Finally, Bay Harbor Wealth Management LLC bought a new position in PepsiCo during the fourth quarter valued at $34,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on PEP shares. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Morgan Stanley cut their price target on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Barclays cut their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They issued a $172.00 price target for the company. Finally, Citigroup cut their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $171.47.

PepsiCo Trading Down 0.8 %

NASDAQ PEP opened at $143.39 on Friday. The stock’s 50-day simple moving average is $149.80 and its two-hundred day simple moving average is $163.20. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a market capitalization of $196.66 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released 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 firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. Research analysts forecast that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. PepsiCo’s dividend payout ratio is currently 77.99%.

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.