Innova Wealth Partners Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

Innova Wealth Partners bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,157 shares of the company’s stock, valued at approximately $480,000.

A number of other hedge funds also recently modified their holdings of the business. Global Wealth Strategies & Associates boosted its holdings in shares of PepsiCo by 59.0% during the 3rd quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after buying an additional 59 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of PepsiCo in the third quarter valued at about $28,000. Legacy Investment Solutions LLC purchased a new position in shares of PepsiCo in the 3rd quarter worth approximately $31,000. Mattson Financial Services LLC bought a new position in PepsiCo in the 2nd quarter valued at $34,000. Finally, Rakuten Securities Inc. grew its position in PepsiCo by 93.2% during the third quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock valued at $34,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Down 0.6 %

NASDAQ:PEP opened at $145.40 on Wednesday. The company has a market cap of $199.49 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 2.94 and a beta of 0.54. The company has a current ratio of 0.89, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $145.34 and a twelve month high of $183.41. The stock has a fifty day simple moving average of $158.60 and a 200-day simple moving average of $166.97.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The company had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. PepsiCo’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $2.25 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 6th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.73%. PepsiCo’s payout ratio is 79.94%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEP. Piper Sandler began coverage on PepsiCo in a research note on Tuesday. They issued an “overweight” rating and a $171.00 price objective on the stock. Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Barclays lowered their price objective on shares of PepsiCo from $186.00 to $183.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Hsbc Global Res upgraded PepsiCo to a “hold” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic upgraded shares of PepsiCo to a “strong sell” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $182.29.

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.