Golden State Wealth Management LLC Purchases Shares of 3,379 PepsiCo, Inc. (NASDAQ:PEP)

Golden State Wealth Management LLC bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, HoldingsChannel.com reports. The firm bought 3,379 shares of the company’s stock, valued at approximately $514,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Highline Wealth Partners LLC purchased a new stake in PepsiCo in the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in PepsiCo during the 3rd quarter worth approximately $31,000. Rakuten Securities Inc. grew its stake in shares of PepsiCo by 93.2% in 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 during the last quarter. Bay Harbor Wealth Management LLC purchased a new stake in shares of PepsiCo during the fourth quarter worth approximately $34,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of PepsiCo during the third quarter worth $44,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

PEP opened at $144.58 on Friday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The firm has a market cap of $198.29 billion, a PE ratio of 21.32, a P/E/G ratio of 2.92 and a beta of 0.54. The company has a quick ratio of 0.70, a current ratio of 0.89 and a debt-to-equity ratio of 1.96. The business has a fifty day simple moving average of $151.80 and a 200-day simple moving average of $164.26.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The company had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 57.32% and a net margin of 10.18%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is 77.99%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company reduced their price objective on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday. Barclays cut their target price on PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a research note on Thursday. TD Cowen dropped their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. 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 stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average target price of $171.47.

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.