PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Mystic Asset Management Inc.

Mystic Asset Management Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 40.2% in the fourth quarter, HoldingsChannel reports. The firm owned 22,951 shares of the company’s stock after buying an additional 6,579 shares during the period. PepsiCo accounts for about 0.9% of Mystic Asset Management Inc.’s holdings, making the stock its 28th biggest holding. Mystic Asset Management Inc.’s holdings in PepsiCo were worth $3,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Leelyn Smith LLC increased its holdings in shares of PepsiCo by 1.9% during the 4th quarter. Leelyn Smith LLC now owns 16,686 shares of the company’s stock valued at $2,537,000 after purchasing an additional 318 shares in the last quarter. Dopkins Wealth Management LLC acquired a new stake in PepsiCo during the fourth quarter valued at $263,000. Flagship Wealth Advisors LLC acquired a new position in shares of PepsiCo in the fourth quarter worth about $1,009,000. Cozad Asset Management Inc. boosted its stake in shares of PepsiCo by 10.3% during the 4th quarter. Cozad Asset Management Inc. now owns 18,258 shares of the company’s stock worth $2,776,000 after acquiring an additional 1,705 shares in the last quarter. Finally, Curio Wealth LLC acquired a new stake in shares of PepsiCo during the 4th quarter valued at about $70,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and lowered their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. BNP Paribas decreased their target price on 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 report on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 price target for the company. Morgan Stanley decreased their price objective on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note 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.com, the company currently has an average rating of “Hold” and an average price target of $170.59.

PepsiCo Stock Performance

PepsiCo stock opened at $151.34 on Tuesday. The firm has a 50 day simple moving average of $148.86 and a 200-day simple moving average of $159.75. The stock has a market cap of $207.56 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. 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.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $27.89 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.58%. PepsiCo’s dividend payout ratio (DPR) is currently 77.99%.

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.