Parvin Asset Management LLC Takes $943,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Parvin Asset Management LLC bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,203 shares of the company’s stock, valued at approximately $943,000. PepsiCo accounts for 1.0% of Parvin Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bridgewealth Advisory Group LLC increased its position in PepsiCo by 58.6% during the 4th quarter. Bridgewealth Advisory Group LLC now owns 5,004 shares of the company’s stock valued at $724,000 after buying an additional 1,849 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in PepsiCo during the 4th quarter valued at approximately $171,000. Voleon Capital Management LP bought a new position in PepsiCo during the 4th quarter valued at approximately $11,359,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of PepsiCo by 203.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 40,185 shares of the company’s stock worth $6,111,000 after purchasing an additional 26,935 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of PepsiCo by 11.4% in the 4th quarter. Lido Advisors LLC now owns 88,779 shares of the company’s stock worth $13,601,000 after purchasing an additional 9,119 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research analyst reports. Citigroup reduced their target price on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. UBS Group reduced their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. Barclays reduced their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on PepsiCo from $184.00 to $178.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. Finally, TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $160.69.

PepsiCo Price Performance

NASDAQ PEP opened at $134.31 on Wednesday. The business’s fifty day moving average is $147.16 and its 200 day moving average is $153.24. PepsiCo, Inc. has a fifty-two week low of $131.52 and a fifty-two week high of $183.41. The company has a market capitalization of $184.18 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.49. 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 (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. PepsiCo’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Announces Dividend

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. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 4.04%. PepsiCo’s payout ratio is 79.71%.

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.