Sherman Asset Management Inc. Purchases New Stake in PepsiCo, Inc. (NASDAQ:PEP)

Sherman Asset Management Inc. purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,215 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds have also bought and sold shares of PEP. Swedbank AB grew its stake in shares of PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after acquiring an additional 1,592,343 shares in the last quarter. Howard Capital Management Group LLC grew its stake in shares of PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after acquiring an additional 90 shares in the last quarter. Campbell Wealth Management bought a new stake in shares of PepsiCo in the 3rd quarter worth $322,000. Capital Advisors Inc. OK grew its stake in shares of PepsiCo by 0.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 1,764,545 shares of the company’s stock worth $300,061,000 after acquiring an additional 7,625 shares in the last quarter. Finally, Weatherly Asset Management L. P. grew its stake in shares of PepsiCo by 19.4% in the 3rd quarter. Weatherly Asset Management L. P. now owns 5,957 shares of the company’s stock worth $1,013,000 after acquiring an additional 966 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Citigroup reduced their price target on shares of PepsiCo from $195.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Piper Sandler began coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target for the company. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Finally, HSBC reduced their price target on shares of PepsiCo from $186.00 to $170.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Trading Up 1.0 %

Shares of PepsiCo stock opened at $153.47 on Friday. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The company has a market cap of $210.48 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 3.09 and a beta of 0.54. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The company’s 50-day moving average price is $148.59 and its 200-day moving average price is $161.53.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The firm had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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 issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is 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.