Virginia Wealth Management Group Inc. Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Virginia Wealth Management Group Inc. lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,936 shares of the company’s stock after acquiring an additional 290 shares during the period. PepsiCo accounts for approximately 2.2% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 25th biggest position. Virginia Wealth Management Group Inc.’s holdings in PepsiCo were worth $3,488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Highline Wealth Partners LLC acquired a new position in shares of PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the 3rd quarter worth $31,000. Rakuten Securities Inc. increased its stake in PepsiCo by 93.2% in the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after purchasing an additional 96 shares during the period. Bay Harbor Wealth Management LLC acquired a new stake in shares of PepsiCo during the fourth quarter worth about $34,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of PepsiCo during the third quarter worth about $44,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PEP shares. Redburn Atlantic raised PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. Evercore ISI dropped their price objective on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Hsbc Global Res upgraded shares of PepsiCo to a “hold” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada started coverage on shares of PepsiCo in a research report on Tuesday. They issued a $172.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $174.53.

PepsiCo Trading Down 4.5 %

Shares of PEP opened at $143.49 on Wednesday. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $152.86 and a 200-day simple moving average of $164.71. The stock has a market cap of $196.87 billion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last released 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 57.32% and a net margin of 10.18%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Friday, December 6th. PepsiCo’s payout ratio is 79.94%.

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.