Elevation Wealth Partners LLC Sells 240 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Elevation Wealth Partners LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,033 shares of the company’s stock after selling 240 shares during the period. Elevation Wealth Partners LLC’s holdings in PepsiCo were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PEP. State Street Corp raised its stake in PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 in the last quarter. Franklin Resources Inc. grew its position in PepsiCo by 21.1% during the 3rd 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 last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of PepsiCo by 2.7% in the third quarter. Wellington Management Group LLP now owns 12,098,551 shares of the company’s stock worth $2,057,359,000 after buying an additional 313,468 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Down 0.5 %

Shares of NASDAQ:PEP opened at $144.58 on Monday. The business’s 50 day moving average price is $151.42 and its 200-day moving average price is $164.09. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The firm has a market capitalization of $198.29 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.89 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 0.70.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the business earned $1.78 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.34 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BNP Paribas dropped their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday. Piper Sandler started coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Evercore ISI reduced their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. Finally, 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 note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $171.47.

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.