Allegiance Financial Group Advisory Services LLC Invests $203,000 in PepsiCo, Inc. (NASDAQ:PEP)

Allegiance Financial Group Advisory Services LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,332 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in PepsiCo by 5.6% during the third 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. Bank of New York Mellon Corp lifted its holdings in PepsiCo by 5.2% during the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after acquiring an additional 689,383 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price objective for the company. Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Finally, StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. One 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Down 3.1 %

Shares of PepsiCo stock opened at $151.51 on Thursday. The company has a market cap of $207.80 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54. The company’s 50 day moving average is $148.56 and its 200 day moving average is $161.80. 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 0.65, a current ratio of 0.82 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. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.78 earnings per share. Research analysts anticipate 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. 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 3.58%. PepsiCo’s dividend payout ratio (DPR) is presently 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.