Sterneck Capital Management LLC Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Sterneck Capital Management LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.6% during the fourth quarter, HoldingsChannel reports. The firm owned 1,642 shares of the company’s stock after buying an additional 257 shares during the period. Sterneck Capital Management LLC’s holdings in PepsiCo were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of PepsiCo by 9.2% in the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock worth $16,968,000 after buying an additional 8,406 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in PepsiCo by 11.0% in the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after acquiring an additional 34,633 shares during the period. IHT Wealth Management LLC grew its stake in shares of PepsiCo by 19.3% during the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after purchasing an additional 5,220 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of PepsiCo during the 3rd quarter valued at about $9,589,000. Finally, Kestra Investment Management LLC purchased a new position in shares of PepsiCo in the third quarter worth approximately $527,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PEP. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday, September 20th. Royal Bank of Canada decreased their target price on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised PepsiCo from a “hold” rating to a “buy” rating and lifted their price objective for the company from $179.00 to $184.00 in a research report on Thursday, December 12th. Finally, Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday. They issued an “overweight” rating and a $171.00 target price for the company. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $182.29.

PepsiCo Stock Down 0.6 %

PEP opened at $145.40 on Wednesday. PepsiCo, Inc. has a 52 week low of $145.34 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 firm has a 50-day simple moving average of $158.60 and a two-hundred day simple moving average of $166.97. The company has a market capitalization of $199.49 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.01. The business had revenue of $23.32 billion during the quarter, compared to analysts’ expectations of $23.86 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

PepsiCo 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.