Mystic Asset Management Inc. Purchases 6,579 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Mystic Asset Management Inc. raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 40.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,951 shares of the company’s stock after buying an additional 6,579 shares during the period. PepsiCo comprises approximately 0.9% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 28th biggest position. Mystic Asset Management Inc.’s holdings in PepsiCo were worth $3,490,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB increased its stake in PepsiCo by 211.4% in the 3rd quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock worth $398,847,000 after buying an additional 1,592,343 shares during the period. Howard Capital Management Group LLC grew its stake in PepsiCo by 2.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 4,568 shares of the company’s stock worth $777,000 after acquiring an additional 90 shares in the last quarter. TrinityPoint Wealth LLC increased its position in shares of PepsiCo by 1.3% during the third quarter. TrinityPoint Wealth LLC now owns 15,499 shares of the company’s stock worth $2,636,000 after acquiring an additional 204 shares during the period. Aljian Capital Management LLC purchased a new stake in shares of PepsiCo in the third quarter valued at approximately $541,000. Finally, Aviso Wealth Management grew its stake in PepsiCo by 42.5% in the third quarter. Aviso Wealth Management now owns 4,210 shares of the company’s stock worth $716,000 after purchasing an additional 1,256 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $151.34 on Tuesday. The company has a 50 day moving average price of $148.86 and a 200 day moving average price of $159.75. The firm has a market capitalization of $207.56 billion, a P/E ratio of 21.78, a PEG ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52 week low of $141.51 and a 52 week 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 analysts’ consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analysts’ expectations of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $1.78 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.58%. PepsiCo’s payout ratio is presently 77.99%.

Analyst Upgrades and Downgrades

PEP has been the subject of several research reports. Jefferies Financial Group cut PepsiCo from a “buy” rating to a “hold” rating and lowered their target price for the stock from $171.00 to $170.00 in a report on Wednesday, March 12th. Evercore ISI lowered their price objective on shares of PepsiCo from $180.00 to $160.00 in a research note on Tuesday, February 4th. UBS Group cut 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. CICC Research reaffirmed a “market perform” rating on shares of PepsiCo in a research report on Friday, February 7th. Finally, BNP Paribas cut their price objective on shares of PepsiCo from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $170.59.

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.