Potomac Fund Management Inc. ADV Purchases New Shares in PepsiCo, Inc. (NASDAQ:PEP)

Potomac Fund Management Inc. ADV acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,077 shares of the company’s stock, valued at approximately $924,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares in the last quarter. State Street Corp increased its stake in shares of PepsiCo by 5.1% in the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company’s stock valued at $9,738,429,000 after buying an additional 2,775,679 shares during the period. Geode Capital Management LLC raised its position in shares of PepsiCo by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock worth $4,717,069,000 after acquiring an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. Finally, Norges Bank acquired a new stake in PepsiCo in the fourth quarter worth about $2,729,565,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Trading Down 0.2 %

PEP opened at $149.67 on Wednesday. The firm’s fifty day simple moving average is $149.30 and its 200 day simple moving average is $157.52. The stock has a market capitalization of $205.27 billion, a P/E ratio of 21.54, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 12 month low of $141.51 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last posted 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. The company had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Friday, March 7th. PepsiCo’s dividend payout ratio is presently 77.99%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PEP. Piper Sandler started coverage on shares of PepsiCo in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $171.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price target for the stock from $171.00 to $170.00 in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, Citigroup reduced their target price on PepsiCo from $195.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $169.88.

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.