FourThought Financial Partners LLC Has $17.52 Million Stake in PepsiCo, Inc. $PEP

FourThought Financial Partners LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.3% in the third quarter, HoldingsChannel.com reports. The fund owned 124,776 shares of the company’s stock after acquiring an additional 7,404 shares during the quarter. PepsiCo comprises about 1.5% of FourThought Financial Partners LLC’s investment portfolio, making the stock its 13th biggest position. FourThought Financial Partners LLC’s holdings in PepsiCo were worth $17,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. Clayton Financial Group LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at approximately $872,000. Avantax Advisory Services Inc. lifted its stake in shares of PepsiCo by 2.6% in the 2nd quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after acquiring an additional 4,627 shares during the last quarter. Kathmere Capital Management LLC grew its position in PepsiCo by 122.6% during the 3rd quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock worth $2,860,000 after acquiring an additional 11,217 shares during the last quarter. Invesco Ltd. boosted its stake in shares of PepsiCo by 11.7% during the second quarter. Invesco Ltd. now owns 12,659,046 shares of the company’s stock valued at $1,671,500,000 after purchasing an additional 1,330,888 shares in the last quarter. Finally, Mediolanum International Funds Ltd raised its holdings in PepsiCo by 19.3% in the 3rd quarter. Mediolanum International Funds Ltd now owns 252,916 shares of the company’s stock valued at $35,451,000 after buying an additional 40,947 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 1.3%

Shares of NASDAQ:PEP opened at $161.53 on Tuesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.67 and a current ratio of 0.85. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $171.48. The business’s 50 day simple moving average is $155.39 and its two-hundred day simple moving average is $149.38. The firm has a market cap of $220.75 billion, a P/E ratio of 26.92, a PEG ratio of 3.06 and a beta of 0.39.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.02. The business had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. PepsiCo had a net margin of 8.77% and a return on equity of 57.92%. PepsiCo’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo declared that its board has initiated a share buyback program on Tuesday, February 3rd that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $5.69 annualized dividend and a dividend yield of 3.5%. PepsiCo’s dividend payout ratio is 94.83%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PEP. BNP Paribas Exane reaffirmed an “outperform” rating on shares of PepsiCo in a research note on Wednesday, February 4th. Evercore lifted their target price on PepsiCo from $152.00 to $165.00 in a report on Wednesday, February 4th. UBS Group restated a “buy” rating and set a $190.00 price objective on shares of PepsiCo in a research report on Wednesday, February 4th. Morgan Stanley raised their price target on shares of PepsiCo from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. Finally, Piper Sandler lifted their target price on shares of PepsiCo from $161.00 to $172.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $168.50.

PepsiCo Company 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.