SteelPeak Wealth LLC Cuts Stock Position in PepsiCo, Inc. $PEP

SteelPeak Wealth LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 93.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,392 shares of the company’s stock after selling 101,126 shares during the quarter. SteelPeak Wealth LLC’s holdings in PepsiCo were worth $1,038,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. Claris Advisors LLC MO increased its stake in shares of PepsiCo by 14.1% during the second quarter. Claris Advisors LLC MO now owns 2,490 shares of the company’s stock worth $329,000 after buying an additional 308 shares during the period. Foster Group Inc. grew its holdings in PepsiCo by 4.6% during the 2nd quarter. Foster Group Inc. now owns 5,169 shares of the company’s stock worth $683,000 after acquiring an additional 229 shares in the last quarter. Merit Financial Group LLC increased its position in shares of PepsiCo by 46.4% in the 2nd quarter. Merit Financial Group LLC now owns 114,344 shares of the company’s stock valued at $15,098,000 after purchasing an additional 36,239 shares during the last quarter. Fulton Bank N.A. raised its holdings in shares of PepsiCo by 2.5% in the 2nd quarter. Fulton Bank N.A. now owns 25,309 shares of the company’s stock valued at $3,342,000 after purchasing an additional 620 shares in the last quarter. Finally, Clayton Financial Group LLC purchased a new stake in shares of PepsiCo during the 3rd quarter worth $872,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $142.23 on Friday. The stock has a market cap of $194.48 billion, a P/E ratio of 27.04, a P/E/G ratio of 4.66 and a beta of 0.42. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $160.15. The stock has a 50 day moving average of $146.37 and a two-hundred day moving average of $143.85. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion for the quarter, compared to analyst estimates of $23.91 billion. During the same period last year, the firm posted $2.31 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio is presently 108.17%.

Analyst Ratings Changes

Several research firms recently commented on PEP. Wells Fargo & Company increased their target price on PepsiCo from $150.00 to $154.00 and gave the company a “positive” rating in a report on Friday, October 10th. Loop Capital set a $164.00 price objective on PepsiCo in a report on Thursday, October 23rd. Piper Sandler boosted their target price on PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Bank of America upped their price target on PepsiCo from $150.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Citigroup raised their price objective on shares of PepsiCo from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.75.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.