Morey & Quinn Wealth Partners LLC Purchases New Shares in PepsiCo, Inc. (NASDAQ:PEP)

Morey & Quinn Wealth Partners LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, Holdings Channel reports. The fund acquired 3,432 shares of the company’s stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. Assenagon Asset Management S.A. lifted its stake in PepsiCo by 104.2% in the 4th 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 in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted 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 purchasing an additional 4,712 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of PepsiCo by 11.0% during the third quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock worth $59,549,000 after purchasing an additional 34,633 shares during the period. IHT Wealth Management LLC increased its stake in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after buying an additional 5,220 shares during the period. Finally, Guinness Asset Management LTD boosted its stake 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 valued at $188,031,000 after buying an additional 61,541 shares during the period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.6 %

Shares of PEP stock opened at $145.54 on Wednesday. The stock has a market cap of $199.61 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. 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 fifty day moving average price of $149.09 and a 200 day moving average price of $158.50. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.72%. PepsiCo’s dividend payout ratio is currently 77.99%.

Analysts Set New Price Targets

PEP has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lowered their price target on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price for the company. Royal Bank of Canada began coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target on the stock. Finally, CICC Research reissued a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. One research 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. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average 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.