Financial Advocates Investment Management Has $968,000 Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Financial Advocates Investment Management reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 38.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,367 shares of the company’s stock after selling 3,989 shares during the period. Financial Advocates Investment Management’s holdings in PepsiCo were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. State Street Corp raised its stake in shares of 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 acquiring an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC raised its position in 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 third 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 holdings in shares of PepsiCo by 21.1% during the third 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 valued at $2,057,359,000 after buying an additional 313,468 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of several research reports. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday. Morgan Stanley lowered their price target on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler began coverage on PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price objective on the stock. Evercore ISI dropped their target price on PepsiCo from $180.00 to $160.00 in a research report on Tuesday. Finally, Wells Fargo & Company decreased their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Performance

PEP stock opened at $144.58 on Friday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The business’s 50-day moving average price is $151.80 and its two-hundred day moving average price is $164.26. The firm has a market cap of $198.29 billion, a PE ratio of 21.32, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. During the same period in the previous year, the firm earned $1.78 EPS. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. As a group, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

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

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.