Cassaday & Co Wealth Management LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Cassaday & Co Wealth Management LLC increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 75,469 shares of the company’s stock after buying an additional 354 shares during the quarter. PepsiCo comprises approximately 0.3% of Cassaday & Co Wealth Management LLC’s portfolio, making the stock its 24th biggest position. Cassaday & Co Wealth Management LLC’s holdings in PepsiCo were worth $11,476,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. AMF Tjanstepension AB grew its position in PepsiCo by 15.8% in the 3rd quarter. AMF Tjanstepension AB now owns 293,824 shares of the company’s stock worth $50,016,000 after purchasing an additional 40,031 shares during the period. Swedbank AB boosted its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the last quarter. Howard Capital Management Group LLC grew its holdings in shares of PepsiCo by 2.0% in the third quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after acquiring an additional 90 shares during the period. Fulcrum Capital LLC increased its position in PepsiCo by 0.4% during the third quarter. Fulcrum Capital LLC now owns 49,465 shares of the company’s stock valued at $8,412,000 after acquiring an additional 188 shares during the last quarter. Finally, McAdam LLC lifted its holdings in PepsiCo by 21.0% in the third quarter. McAdam LLC now owns 2,061 shares of the company’s stock valued at $351,000 after acquiring an additional 357 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler started 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 target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Wells Fargo & Company dropped their price target on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft decreased their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Trading Up 2.3 %

Shares of PEP opened at $149.10 on Friday. The firm has a market cap of $204.49 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company has a 50 day simple moving average of $148.94 and a two-hundred day simple moving average of $162.49.

PepsiCo (NASDAQ:PEP) last posted its 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. The company 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%. PepsiCo’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted $1.78 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.31 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio 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.