Centricity Wealth Management LLC Buys New Shares in PepsiCo, Inc. (NASDAQ:PEP)

Centricity Wealth Management LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,377 shares of the company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEP. Legacy Capital Group California Inc. raised its position in PepsiCo by 8.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 1,371 shares of the company’s stock worth $209,000 after purchasing an additional 108 shares during the period. Suncoast Equity Management grew its stake in shares of PepsiCo by 1.1% during the fourth quarter. Suncoast Equity Management now owns 15,154 shares of the company’s stock valued at $2,304,000 after buying an additional 162 shares during the last quarter. Nicholson Wealth Management Group LLC lifted its stake in shares of PepsiCo by 48.8% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 15,120 shares of the company’s stock valued at $2,299,000 after acquiring an additional 4,962 shares during the last quarter. Tandem Investment Advisors Inc. boosted its holdings in PepsiCo by 7.8% during the 4th quarter. Tandem Investment Advisors Inc. now owns 1,635 shares of the company’s stock valued at $249,000 after acquiring an additional 118 shares during the period. Finally, Mattern Capital Management LLC grew its position in PepsiCo by 6.6% during the 4th quarter. Mattern Capital Management LLC now owns 53,256 shares of the company’s stock worth $8,098,000 after acquiring an additional 3,315 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEP has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Evercore ISI dropped their price target on shares of PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. TD Cowen decreased 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. CICC Research reissued a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. Finally, Citigroup lowered their price target on PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Up 2.3 %

NASDAQ:PEP opened at $149.10 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The firm’s 50-day moving average price is $148.94 and its 200-day moving average price is $162.49. The company has a market capitalization of $204.49 billion, a PE ratio of 21.45, a P/E/G ratio of 3.02 and a beta of 0.54. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $27.78 billion for the quarter, compared to analysts’ expectations of $27.89 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, equities analysts predict that PepsiCo, Inc. will post 8.31 EPS 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 paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 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.