Smith Chas P & Associates PA Cpas Has $22.20 Million Stake in PepsiCo, Inc. $PEP

Smith Chas P & Associates PA Cpas cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 37.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 158,078 shares of the company’s stock after selling 95,431 shares during the quarter. PepsiCo makes up approximately 1.9% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 21st biggest position. Smith Chas P & Associates PA Cpas’ holdings in PepsiCo were worth $22,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Clayton Financial Group LLC bought a new stake in shares of PepsiCo during the 3rd quarter valued at about $872,000. Avantax Advisory Services Inc. lifted its stake in PepsiCo by 2.6% in the second quarter. Avantax Advisory Services Inc. now owns 185,961 shares of the company’s stock valued at $24,554,000 after buying an additional 4,627 shares during the period. Kathmere Capital Management LLC lifted its stake in PepsiCo by 122.6% in the third quarter. Kathmere Capital Management LLC now owns 20,365 shares of the company’s stock valued at $2,860,000 after buying an additional 11,217 shares during the period. Invesco Ltd. boosted its holdings in shares of PepsiCo by 11.7% during the 2nd quarter. Invesco Ltd. now owns 12,659,046 shares of the company’s stock worth $1,671,500,000 after buying an additional 1,330,888 shares in the last quarter. Finally, Amica Retiree Medical Trust acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $124,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 1.4%

NASDAQ:PEP opened at $164.91 on Wednesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.67. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The company has a market cap of $225.37 billion, a PE ratio of 27.49, a PEG ratio of 3.21 and a beta of 0.39. The firm has a 50-day moving average of $153.98 and a 200-day moving average of $149.07.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.02. The business had revenue of $29.34 billion during the quarter, compared to the consensus estimate of $28.96 billion. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to purchase up to 4.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a dividend of $1.4225 per share. The ex-dividend date is Friday, March 6th. This represents a $5.69 annualized dividend and a dividend yield of 3.5%. PepsiCo’s dividend payout ratio (DPR) is presently 94.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PEP. Citigroup boosted their target price on shares of PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Piper Sandler upped their price objective on shares of PepsiCo from $161.00 to $172.00 and gave the company an “overweight” rating in a report on Tuesday, December 9th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a research report on Friday, January 9th. Wells Fargo & Company boosted their target price on PepsiCo from $154.00 to $165.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 4th. Finally, Jefferies Financial Group upped their price target on PepsiCo from $163.00 to $164.00 and gave the stock a “hold” rating in a research note on Tuesday, December 9th. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $168.50.

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.