Innova Wealth Partners Purchases New Position in PepsiCo, Inc. (NASDAQ:PEP)

Innova Wealth Partners bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,157 shares of the company’s stock, valued at approximately $480,000.

Other institutional investors have also made changes to their positions in the company. Global Wealth Strategies & Associates raised its position in PepsiCo by 59.0% in the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares in the last quarter. Cross Staff Investments Inc raised its stake in PepsiCo by 0.9% in the 3rd quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after purchasing an additional 60 shares during the last quarter. Paulson Wealth Management Inc. boosted its position in PepsiCo by 2.1% during the third quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock worth $508,000 after acquiring an additional 60 shares during the last quarter. LCM Capital Management Inc increased its stake in PepsiCo by 0.8% in the third quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock valued at $1,288,000 after purchasing an additional 62 shares during the last quarter. Finally, Demars Financial Group LLC increased its position in PepsiCo by 1.1% during the third quarter. Demars Financial Group LLC now owns 5,721 shares of the company’s stock worth $973,000 after purchasing an additional 62 shares during the last quarter. 73.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEP has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on PepsiCo from $170.00 to $155.00 and set an “equal weight” rating on the stock in a report on Tuesday. Hsbc Global Res raised shares of PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Bank of America dropped their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada reduced their target price on shares of PepsiCo from $177.00 to $176.00 and set a “sector perform” rating for the company in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $182.29.

PepsiCo Stock Down 0.6 %

Shares of PepsiCo stock opened at $145.40 on Wednesday. PepsiCo, Inc. has a 52-week low of $145.34 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89. The business’s 50 day simple moving average is $158.60 and its 200 day simple moving average is $166.97. The firm has a market cap of $199.49 billion, a PE ratio of 21.45, a P/E/G ratio of 2.94 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.01. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The business had revenue of $23.32 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the business earned $2.25 earnings per share. PepsiCo’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Friday, December 6th. PepsiCo’s dividend payout ratio is presently 79.94%.

PepsiCo 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.