Heartwood Wealth Advisors LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 26th, 2023

Heartwood Wealth Advisors LLC decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,209 shares of the company’s stock after selling 114 shares during the period. Heartwood Wealth Advisors LLC’s holdings in PepsiCo were worth $585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Proquility Private Wealth Partners LLC raised its stake in PepsiCo by 1.1% during the 4th quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock valued at $950,000 after purchasing an additional 57 shares during the period. Wealth Advisory Solutions LLC boosted its holdings in PepsiCo by 1.7% in the third quarter. Wealth Advisory Solutions LLC now owns 3,545 shares of the company’s stock worth $579,000 after purchasing an additional 59 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in PepsiCo by 1.4% in the first quarter. 180 Wealth Advisors LLC now owns 4,180 shares of the company’s stock worth $762,000 after purchasing an additional 59 shares in the last quarter. Brave Asset Management Inc. boosted its holdings in PepsiCo by 4.7% in the first quarter. Brave Asset Management Inc. now owns 1,309 shares of the company’s stock worth $239,000 after purchasing an additional 59 shares in the last quarter. Finally, Hofer & Associates. Inc boosted its holdings in PepsiCo by 2.7% in the third quarter. Hofer & Associates. Inc now owns 2,319 shares of the company’s stock worth $379,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of PepsiCo from $187.00 to $196.00 in a report on Wednesday, April 26th. Morgan Stanley upped their price target on shares of PepsiCo from $200.00 to $210.00 in a report on Tuesday, April 25th. StockNews.com assumed coverage on shares of PepsiCo in a report on Thursday, May 18th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 26th. Finally, Royal Bank of Canada upped their price target on shares of PepsiCo from $175.00 to $178.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $190.25.

PepsiCo Stock Performance

NASDAQ PEP opened at $186.07 on Monday. The firm has a market cap of $256.35 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 3.25 and a beta of 0.54. The company has a 50 day moving average of $187.54 and a 200-day moving average of $181.29. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 2.18. PepsiCo, Inc. has a 1-year low of $160.98 and a 1-year high of $196.88.

PepsiCo (NASDAQ:PEP – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.13. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. The company had revenue of $17.85 billion during the quarter, compared to analyst estimates of $17.27 billion. During the same quarter last year, the business posted $1.29 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that PepsiCo, Inc. will post 7.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be paid a dividend of $1.265 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, June 1st. PepsiCo’s dividend payout ratio is 106.53%.

About PepsiCo

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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