Tyche Wealth Partners LLC Takes $35.07 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Tyche Wealth Partners LLC purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 206,506 shares of the company's stock, valued at approximately $35,073,000. PepsiCo makes up 8.5% of Tyche Wealth Partners LLC's holdings, making the stock its largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PepsiCo by 34.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company's stock worth $188,812,000 after purchasing an additional 286,169 shares in the last quarter. AMI Investment Management Inc. lifted its position in shares of PepsiCo by 0.7% during the first quarter. AMI Investment Management Inc. now owns 16,627 shares of the company's stock worth $2,783,000 after purchasing an additional 113 shares in the last quarter. Mather Group LLC. lifted its position in shares of PepsiCo by 29.3% during the first quarter. Mather Group LLC. now owns 5,562 shares of the company's stock worth $931,000 after purchasing an additional 1,262 shares in the last quarter. Wsfs Capital Management LLC lifted its position in shares of PepsiCo by 117.2% during the first quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company's stock worth $501,000 after purchasing an additional 1,616 shares in the last quarter. Finally, Equitable Holdings Inc. raised its stake in shares of PepsiCo by 8.5% during the first quarter. Equitable Holdings Inc. now owns 26,909 shares of the company's stock worth $4,504,000 after buying an additional 2,116 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of PepsiCo from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $185.00 to $176.00 in a research note on Tuesday, December 19th. Jefferies Financial Group upped their target price on shares of PepsiCo from $199.00 to $209.00 and gave the company a "buy" rating in a research note on Friday, April 5th. Barclays upped their target price on shares of PepsiCo from $183.00 to $184.00 and gave the company an "overweight" rating in a research note on Friday. Argus downgraded shares of PepsiCo from a "buy" rating to a "hold" rating in a research note on Wednesday, April 3rd. Finally, Citigroup upgraded shares of PepsiCo from a "neutral" rating to a "buy" rating and upped their price target for the company from $180.00 to $195.00 in a report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $186.92.

PepsiCo Stock Performance

Shares of PEP traded up $0.55 during trading hours on Tuesday, hitting $167.50. The company had a trading volume of 4,568,835 shares, compared to its average volume of 5,747,456. The firm has a market cap of $230.23 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 2.64 and a beta of 0.53. The business has a fifty day moving average of $168.70 and a 200-day moving average of $167.38. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $196.88. The company has a quick ratio of 0.68, a current ratio of 0.85 and a debt-to-equity ratio of 2.02.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $27.84 billion for the quarter, compared to analyst estimates of $28.40 billion. PepsiCo had a net margin of 9.92% and a return on equity of 58.03%. The company's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 earnings per share. Equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, February 29th. PepsiCo's dividend payout ratio is 77.02%.

PepsiCo Company 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.

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