PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 105.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 141,875 shares of the company’s stock after purchasing an additional 72,946 shares during the period. Apollon Wealth Management LLC’s holdings in PepsiCo were worth $21,573,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new stake in shares of PepsiCo in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo during the third quarter worth approximately $31,000. Rakuten Securities Inc. boosted its stake in PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo during the 4th quarter valued at $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of PepsiCo in the third quarter valued at $44,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $144.58 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41. The company’s fifty day moving average is $151.80 and its 200-day moving average is $164.26. The firm has a market cap of $198.29 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results 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. The company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 earnings per share. Equities analysts expect that PepsiCo, Inc. will post 8.34 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $1.355 per share. 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 dividend payout ratio is 77.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PEP shares. Royal Bank of Canada assumed coverage on shares of PepsiCo in a research report on Tuesday. They issued a $172.00 price target on the stock. Evercore ISI cut their target price on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research note on Friday. Morgan Stanley decreased their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $171.47.

About PepsiCo

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.