PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Old North State Wealth Management LLC

Old North State Wealth Management LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 22.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,995 shares of the company’s stock after acquiring an additional 555 shares during the period. Old North State Wealth Management LLC’s holdings in PepsiCo were worth $457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of PepsiCo by 17,113.0% in the third quarter. International Assets Investment Management LLC now owns 3,220,385 shares of the company’s stock valued at $547,626,000 after purchasing an additional 3,201,676 shares during the period. State Street Corp increased its holdings in shares of 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 during the last quarter. Franklin Resources Inc. raised its holdings in shares of 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 purchasing an additional 2,264,445 shares during the period. Swedbank AB raised its stake in PepsiCo by 211.4% during the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $143.49 on Wednesday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average of $152.86 and a two-hundred day moving average of $164.71. The company has a market capitalization of $196.87 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $1.78 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is 79.94%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. TD Cowen cut their price objective on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Barclays decreased their target price on shares of PepsiCo from $183.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Hsbc Global Res raised PepsiCo to a “hold” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada initiated coverage on PepsiCo in a report on Tuesday. They issued a $172.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $174.53.

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.