Miller Financial Services LLC Purchases Shares of 7,506 PepsiCo, Inc. (NASDAQ:PEP)

Miller Financial Services LLC purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, Holdings Channel.com reports. The firm purchased 7,506 shares of the company’s stock, valued at approximately $1,141,000. PepsiCo accounts for about 1.0% of Miller Financial Services LLC’s holdings, making the stock its 28th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp boosted its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after purchasing an additional 2,775,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after purchasing an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of PepsiCo by 5.2% during the 4th quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock worth $2,130,841,000 after buying an additional 689,383 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of PepsiCo by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after buying an additional 2,264,445 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. TD Cowen dropped their target price 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 report on Friday, February 7th. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Finally, StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $172.35.

PepsiCo Trading Up 1.2 %

Shares of PEP stock opened at $156.25 on Tuesday. The company’s fifty day simple moving average is $148.89 and its two-hundred day simple moving average is $160.62. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The stock has a market capitalization of $214.30 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 3.09 and a beta of 0.52.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a dividend of $1.355 per share. 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 3.47%. PepsiCo’s dividend payout ratio (DPR) is currently 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.