Apollon Wealth Management LLC Has $21.57 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Apollon Wealth Management LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 105.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 141,875 shares of the company’s stock after acquiring an additional 72,946 shares during the quarter. Apollon Wealth Management LLC’s holdings in PepsiCo were worth $21,573,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Empowered Funds LLC boosted its position in shares of PepsiCo by 9.2% during the 3rd quarter. Empowered Funds LLC now owns 99,785 shares of the company’s stock valued at $16,968,000 after acquiring an additional 8,406 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in PepsiCo by 104.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,705,574 shares of the company’s stock valued at $259,350,000 after purchasing an additional 870,451 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of PepsiCo by 11.0% in the 3rd quarter. Janus Henderson Group PLC now owns 350,225 shares of the company’s stock valued at $59,549,000 after purchasing an additional 34,633 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of PepsiCo by 12.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 41,580 shares of the company’s stock worth $6,323,000 after buying an additional 4,712 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its stake in PepsiCo by 19.3% in the 3rd quarter. IHT Wealth Management LLC now owns 32,267 shares of the company’s stock valued at $5,493,000 after buying an additional 5,220 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Piper Sandler began coverage on shares of PepsiCo in a report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. Royal Bank of Canada began coverage on shares of PepsiCo in a research note on Tuesday. They set a $172.00 price objective on the stock. Citigroup cut their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Evercore ISI decreased their price target on PepsiCo from $180.00 to $160.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $171.47.

PepsiCo Trading Down 0.5 %

PEP opened at $144.58 on Friday. The firm has a 50 day simple moving average of $151.80 and a 200 day simple moving average of $164.26. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The company has a market cap of $198.29 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.70.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the business posted $1.78 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.34 earnings per share for the current year.

PepsiCo Announces Dividend

The business 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 $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.75%. PepsiCo’s dividend payout ratio (DPR) is presently 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.