Aspen Investment Management Inc Has $2.03 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Aspen Investment Management Inc lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,369 shares of the company’s stock after selling 687 shares during the period. PepsiCo makes up 0.9% of Aspen Investment Management Inc’s portfolio, making the stock its 27th largest holding. Aspen Investment Management Inc’s holdings in PepsiCo were worth $2,033,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PEP. Cross Staff Investments Inc grew its stake in shares of PepsiCo by 0.9% in the third quarter. Cross Staff Investments Inc now owns 7,080 shares of the company’s stock valued at $1,204,000 after acquiring an additional 60 shares in the last quarter. Paulson Wealth Management Inc. boosted its holdings in PepsiCo by 2.1% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,986 shares of the company’s stock valued at $508,000 after purchasing an additional 60 shares during the period. LCM Capital Management Inc grew its position in shares of PepsiCo by 0.8% during the 3rd quarter. LCM Capital Management Inc now owns 7,573 shares of the company’s stock worth $1,288,000 after purchasing an additional 62 shares in the last quarter. Demars Financial Group LLC increased its holdings in shares of 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 period. Finally, Sigma Investment Counselors Inc. raised its position in shares of PepsiCo by 1.6% in the third quarter. Sigma Investment Counselors Inc. now owns 4,310 shares of the company’s stock valued at $733,000 after buying an additional 66 shares in the last quarter. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent research reports. Piper Sandler assumed coverage on PepsiCo in a research note on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective on the stock. UBS Group decreased their price target on PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley cut their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Evercore ISI decreased their target price on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Finally, Citigroup cut their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.47.

PepsiCo Trading Up 2.3 %

Shares of PEP stock opened at $149.10 on Friday. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The stock’s fifty day simple moving average is $148.94 and its 200 day simple moving average is $162.49. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market capitalization of $204.49 billion, a P/E ratio of 21.45, a P/E/G ratio of 3.02 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 the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 earnings per share. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.31 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. This represents a $5.42 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

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.