Pekin Hardy Strauss Inc. Has $4.34 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Pekin Hardy Strauss Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,541 shares of the company’s stock after selling 2,769 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in PepsiCo were worth $4,340,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Highline Wealth Partners LLC acquired a new position in PepsiCo in the 3rd quarter valued at $28,000. Collier Financial acquired a new position in PepsiCo in the 4th quarter valued at $28,000. Creative Capital Management Investments LLC acquired a new position in PepsiCo in the 4th quarter valued at $30,000. Legacy Investment Solutions LLC bought a new stake in PepsiCo in the 3rd quarter valued at $31,000. Finally, Rakuten Securities Inc. boosted its holdings in 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 period. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Up 3.0 %

Shares of PEP stock opened at $153.50 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a market capitalization of $210.53 billion, a P/E ratio of 22.09, a P/E/G ratio of 3.09 and a beta of 0.54. The firm has a 50-day moving average price of $148.66 and a 200 day moving average price of $162.18. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same period last year, the firm posted $1.78 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is presently 77.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEP. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Barclays reduced their price target on shares of PepsiCo from $158.00 to $153.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Citigroup reduced 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. Finally, Evercore ISI reduced their price target on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. One 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.com, PepsiCo presently has an average rating of “Hold” and a consensus 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.