Phoenix Financial Ltd. Acquires 2,659 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Phoenix Financial Ltd. boosted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 9.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,168 shares of the company's stock after buying an additional 2,659 shares during the period. Phoenix Financial Ltd.'s holdings in PepsiCo were worth $4,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Collier Financial bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $28,000. WealthTrak Capital Management LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo in the 4th quarter worth $30,000. Prudent Man Investment Management Inc. acquired a new stake in shares of PepsiCo during the fourth quarter worth $30,000. Finally, Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at $33,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on PEP. Barclays lowered shares of PepsiCo from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $168.00 to $156.00 in a research note on Tuesday, March 18th. TD Cowen lowered their price objective on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Citigroup decreased their target price on PepsiCo from $195.00 to $170.00 and set a "buy" rating for the company in a research report on Wednesday, February 5th. StockNews.com lowered PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Finally, Piper Sandler initiated coverage on PepsiCo in a research note on Tuesday, January 7th. They set an "overweight" rating and a $171.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $168.12.

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PepsiCo Stock Performance

Shares of PepsiCo stock traded down $2.91 during trading on Tuesday, reaching $143.84. The company's stock had a trading volume of 1,927,427 shares, compared to its average volume of 6,069,311. The business's fifty day moving average price is $148.39 and its 200-day moving average price is $155.52. PepsiCo, Inc. has a one year low of $138.33 and a one year high of $183.41. The firm has a market cap of $197.25 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $27.78 billion during the quarter, compared to analysts' expectations of $27.89 billion. During the same period in the prior year, the business earned $1.78 earnings per share. PepsiCo's revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.77%. PepsiCo's dividend payout ratio (DPR) is 77.99%.

PepsiCo 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.