First Financial Bankshares Inc Boosts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

First Financial Bankshares Inc raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 440,481 shares of the company’s stock after purchasing an additional 1,888 shares during the quarter. PepsiCo accounts for approximately 1.4% of First Financial Bankshares Inc’s investment portfolio, making the stock its 22nd biggest holding. First Financial Bankshares Inc’s holdings in PepsiCo were worth $66,980,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its position in shares of PepsiCo by 104.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock worth $259,350,000 after acquiring an additional 870,451 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of PepsiCo by 12.8% in the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after acquiring an additional 4,712 shares during the period. Janus Henderson Group PLC raised its position in shares of PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after acquiring an additional 34,633 shares during the period. IHT Wealth Management LLC raised its position in shares of PepsiCo by 19.3% in the third quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock worth $5,493,000 after acquiring an additional 5,220 shares during the period. Finally, Guinness Asset Management LTD raised its position in shares of PepsiCo by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company’s stock worth $188,031,000 after purchasing an additional 61,541 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PepsiCo stock opened at $148.99 on Wednesday. The firm has a 50 day simple moving average of $148.94 and a 200-day simple moving average of $159.58. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market cap of $204.34 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 dividend on an annualized basis and a dividend yield of 3.64%. PepsiCo’s payout ratio is currently 77.99%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 price target for the company. Finally, Wells Fargo & Company reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $169.88.

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.