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

Pettyjohn Wood & White Inc. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,413 shares of the company’s stock after acquiring an additional 435 shares during the quarter. PepsiCo accounts for 1.7% of Pettyjohn Wood & White Inc.’s holdings, making the stock its 16th biggest position. Pettyjohn Wood & White Inc.’s holdings in PepsiCo were worth $9,338,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PEP. VELA Investment Management LLC raised its position in PepsiCo by 96.0% during the fourth quarter. VELA Investment Management LLC now owns 17,517 shares of the company’s stock worth $2,664,000 after acquiring an additional 8,579 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of PepsiCo by 1.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 14,480 shares of the company’s stock worth $2,202,000 after buying an additional 162 shares in the last quarter. Bouchey Financial Group Ltd grew its stake in shares of PepsiCo by 6.1% in the fourth quarter. Bouchey Financial Group Ltd now owns 2,898 shares of the company’s stock valued at $442,000 after acquiring an additional 167 shares in the last quarter. Anchor Capital Advisors LLC boosted its stake in shares of PepsiCo by 9.7% in the fourth quarter. Anchor Capital Advisors LLC now owns 101,365 shares of the company’s stock valued at $15,414,000 after buying an additional 8,953 shares during the period. Finally, Shoker Investment Counsel Inc. raised its stake in PepsiCo by 0.6% in the fourth quarter. Shoker Investment Counsel Inc. now owns 21,797 shares of the company’s stock valued at $3,315,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the subject of several recent analyst reports. Piper Sandler initiated coverage on PepsiCo in a research report on Tuesday, January 7th. They set an “overweight” rating and a $171.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. BNP Paribas lowered their target price on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. UBS Group dropped their target price on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays cut their price target on PepsiCo from $158.00 to $153.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $171.47.

PepsiCo Stock Performance

NASDAQ PEP opened at $152.02 on Friday. The company has a 50-day simple moving average of $148.57 and a 200 day simple moving average of $161.73. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a 52-week low of $141.51 and a 52-week high of $183.41. The company has a market capitalization of $208.50 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion for 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%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. On average, research 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. Stockholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s dividend payout ratio (DPR) is presently 77.99%.

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.