IMG Wealth Management Inc. Takes $73,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

IMG Wealth Management Inc. bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 483 shares of the company’s stock, valued at approximately $73,000.

A number of other hedge funds also recently modified their holdings of PEP. Tcfg Wealth Management LLC increased its position in PepsiCo by 3.5% during the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after purchasing an additional 66 shares during the period. BIP Wealth LLC increased its position in PepsiCo by 1.9% during the 3rd quarter. BIP Wealth LLC now owns 3,601 shares of the company’s stock valued at $612,000 after purchasing an additional 67 shares during the period. Lincoln Capital LLC increased its position in PepsiCo by 0.4% during the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company’s stock valued at $2,556,000 after purchasing an additional 70 shares during the period. Marshall Financial Group LLC increased its position in PepsiCo by 2.3% during the 4th quarter. Marshall Financial Group LLC now owns 3,128 shares of the company’s stock valued at $476,000 after purchasing an additional 70 shares during the period. Finally, Osprey Private Wealth LLC grew its position in shares of PepsiCo by 0.5% in the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company’s stock worth $2,290,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. BNP Paribas reduced their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler initiated coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Citigroup reduced their target price on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. HSBC reduced their target price on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Finally, TD Cowen reduced 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. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $170.59.

PepsiCo Price Performance

PEP opened at $148.59 on Monday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a market capitalization of $203.79 billion, a P/E ratio of 21.38, a P/E/G ratio of 3.09 and a beta of 0.52. The company’s 50-day simple moving average is $148.76 and its two-hundred day simple moving average is $159.89. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $1.78 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm 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. This represents a $5.42 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio 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.