Centerline Wealth Advisors LLC Takes $1.66 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Centerline Wealth Advisors LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,885 shares of the company’s stock, valued at approximately $1,655,000. PepsiCo makes up about 1.0% of Centerline Wealth Advisors LLC’s holdings, making the stock its 17th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $31,000. Rakuten Securities Inc. boosted its holdings 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 acquiring an additional 96 shares during the period. Bay Harbor Wealth Management LLC purchased a new position in PepsiCo during the 4th quarter valued at about $34,000. Finally, ORG Wealth Partners LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $44,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group lowered their target price on PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. cut their price target on PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a report on Friday, January 24th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday. CICC Research restated a “market perform” rating on shares of PepsiCo in a report on Friday. Finally, Hsbc Global Res upgraded PepsiCo to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Price Performance

Shares of PEP opened at $145.35 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two 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 firm has a 50-day simple moving average of $152.15 and a 200-day simple moving average of $164.39. The company has a market capitalization of $199.42 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 2.92 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same period in the previous year, the business posted $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.73%. PepsiCo’s payout ratio is 79.94%.

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.