Pettyjohn Wood & White Inc. Purchases 435 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pettyjohn Wood & White Inc. raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 61,413 shares of the company’s stock after buying an additional 435 shares during the quarter. PepsiCo accounts for 1.7% of Pettyjohn Wood & White Inc.’s holdings, making the stock its 16th largest position. Pettyjohn Wood & White Inc.’s holdings in PepsiCo were worth $9,338,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PEP. State Street Corp grew its position in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after buying an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock valued at $5,170,529,000 after acquiring an additional 543,558 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock worth $3,632,413,000 after purchasing an additional 1,125,059 shares in the last quarter. Bank of New York Mellon Corp raised its stake in PepsiCo by 5.2% in the fourth quarter. Bank of New York Mellon Corp now owns 14,013,158 shares of the company’s stock valued at $2,130,841,000 after purchasing an additional 689,383 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.3 %

PEP opened at $152.02 on Friday. PepsiCo, Inc. has a one year low of $141.51 and a one year high of $183.41. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The business has a 50 day simple moving average of $148.57 and a two-hundred day simple moving average of $161.73. The firm has a market capitalization of $208.50 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm posted $1.78 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Friday, March 7th. PepsiCo’s payout ratio is currently 77.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEP. CICC Research restated a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. TD Cowen dropped their price target on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Finally, Piper Sandler assumed coverage on shares of PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price target on the stock. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $171.47.

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.