Independent Solutions Wealth Management LLC Cuts Position in PepsiCo, Inc. (NASDAQ:PEP)

Independent Solutions Wealth Management LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,242 shares of the company’s stock after selling 119 shares during the period. Independent Solutions Wealth Management LLC’s holdings in PepsiCo were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Raymond James Financial Inc. bought a new stake in PepsiCo in the 4th quarter worth approximately $589,307,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. State Street Corp boosted its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. Finally, Swedbank AB lifted its stake in PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after purchasing an additional 1,592,343 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $147.15 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company’s fifty day moving average price is $148.98 and its 200-day moving average price is $159.41. The stock has a market cap of $201.82 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $27.89 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Analysts Set New Price Targets

Several research firms have recently commented on PEP. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Citigroup decreased their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Piper Sandler initiated coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Jefferies Financial Group cut shares of PepsiCo from a “buy” rating to a “hold” rating and decreased their price objective for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Finally, Morgan Stanley cut their target price on PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.