Sherman Asset Management Inc. Buys New Position in PepsiCo, Inc. (NASDAQ:PEP)

Sherman Asset Management Inc. bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,215 shares of the company’s stock, valued at approximately $185,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Onefund LLC grew its position in PepsiCo by 2.8% during the fourth quarter. Onefund LLC now owns 3,710 shares of the company’s stock valued at $564,000 after acquiring an additional 101 shares during the last quarter. Nixon Peabody Trust Co. grew its position in PepsiCo by 0.4% during the fourth quarter. Nixon Peabody Trust Co. now owns 88,639 shares of the company’s stock valued at $13,478,000 after acquiring an additional 354 shares during the last quarter. Richard W. Paul & Associates LLC grew its position in PepsiCo by 9.5% during the fourth quarter. Richard W. Paul & Associates LLC now owns 4,811 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares during the last quarter. Metis Global Partners LLC grew its position in PepsiCo by 2.9% during the fourth quarter. Metis Global Partners LLC now owns 68,296 shares of the company’s stock valued at $10,385,000 after acquiring an additional 1,924 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in shares of PepsiCo in the fourth quarter worth approximately $40,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent analyst reports. Evercore ISI cut their target price on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. Morgan Stanley cut their target price on shares of PepsiCo from $185.00 to $168.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their target price on shares of PepsiCo from $155.00 to $150.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. One investment 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. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $171.47.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $153.47 on Friday. 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 firm has a market capitalization of $210.48 billion, a P/E ratio of 22.08, a P/E/G ratio of 3.09 and a beta of 0.54. The business has a fifty day simple moving average of $148.59 and a two-hundred day simple moving average of $161.53. 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 results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to analyst estimates of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. PepsiCo’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.53%. 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.