Heartwood Wealth Advisors LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 21.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,351 shares of the company’s stock after selling 643 shares during the period. Heartwood Wealth Advisors LLC’s holdings in PepsiCo were worth $333,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Magellan Asset Management Ltd raised its position in shares of PepsiCo by 32.1% during the 4th quarter. Magellan Asset Management Ltd now owns 13,983,914 shares of the company’s stock valued at $2,073,814,000 after acquiring an additional 3,396,536 shares in the last quarter. Norges Bank acquired a new stake in PepsiCo in the fourth quarter worth $2,066,514,000. Morgan Stanley increased its position in PepsiCo by 9.5% in the fourth quarter. Morgan Stanley now owns 12,927,926 shares of the company’s stock worth $1,917,210,000 after buying an additional 1,122,678 shares during the period. Nuveen Asset Management LLC increased its position in PepsiCo by 13.3% in the fourth quarter. Nuveen Asset Management LLC now owns 11,188,907 shares of the company’s stock worth $1,659,315,000 after buying an additional 1,312,672 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in PepsiCo by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,503,015 shares of the company’s stock worth $1,557,593,000 after buying an additional 731,839 shares during the period. 69.94% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, April 1st. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research report on Friday, February 12th. Morgan Stanley increased their target price on PepsiCo from $158.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, April 16th. Wolfe Research started coverage on PepsiCo in a report on Monday. They set a “peer perform” rating on the stock. Finally, Credit Suisse Group raised their price target on PepsiCo from $144.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $149.44.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, April 14th. The company reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.09. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. The firm had revenue of $14.82 billion during the quarter, compared to analyst estimates of $14.54 billion. During the same period last year, the company posted $1.07 EPS. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were given a dividend of $1.0225 per share. The ex-dividend date was Thursday, March 4th. This represents a $4.09 dividend on an annualized basis and a yield of 2.78%. PepsiCo’s payout ratio is presently 73.96%.
PepsiCo, Inc operates as a food and beverage company 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.
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