Rovida Advisors Inc. Takes $3.30 Million Position in PepsiCo, Inc. $PEP

Rovida Advisors Inc. purchased a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 25,000 shares of the company’s stock, valued at approximately $3,300,000. PepsiCo makes up 0.5% of Rovida Advisors Inc.’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nova Wealth Management Inc. bought a new stake in shares of PepsiCo in the 1st quarter valued at about $25,000. Legend Financial Advisors Inc. acquired a new stake in PepsiCo in the second quarter valued at approximately $29,000. Frazier Financial Advisors LLC grew its holdings in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in shares of PepsiCo during the 2nd quarter valued at $45,000. Finally, Investment Research & Advisory Group Inc. boosted its position in shares of PepsiCo by 263.6% in the 2nd quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock worth $42,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.1%

Shares of NASDAQ:PEP opened at $147.11 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $165.13. The business has a 50 day moving average of $145.28 and a two-hundred day moving average of $140.32. The company has a market capitalization of $201.15 billion, a PE ratio of 27.97, a PEG ratio of 3.56 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The business had revenue of $23.94 billion for the quarter, compared to analysts’ expectations of $23.91 billion. During the same quarter last year, the company earned $2.31 EPS. The business’s revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Wall Street Analyst Weigh In

PEP has been the subject of a number of research analyst reports. Rothschild & Co Redburn increased their price target on PepsiCo from $115.00 to $117.00 and gave the company a “sell” rating in a research note on Monday, October 13th. Citigroup decreased their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Piper Sandler upped their price target on shares of PepsiCo from $160.00 to $162.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Bank of America lifted their price target on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Finally, Evercore ISI upped their target price on PepsiCo from $150.00 to $152.00 in a research report on Friday, October 10th. Seven equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $156.95.

About PepsiCo

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.