Mystic Asset Management Inc. Has $2.71 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Mystic Asset Management Inc. increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,421 shares of the company’s stock after purchasing an additional 132 shares during the period. PepsiCo comprises about 1.1% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Mystic Asset Management Inc.’s holdings in PepsiCo were worth $2,708,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC boosted its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the 2nd quarter valued at $30,000. Fortis Group Advisors LLC increased its stake in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in PepsiCo during the first quarter valued at $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

PEP opened at $177.36 on Friday. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The firm has a market capitalization of $243.62 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The stock’s 50 day moving average price is $172.37 and its two-hundred day moving average price is $171.45. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. PepsiCo’s revenue was up .8% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is presently 78.66%.

Analyst Upgrades and Downgrades

PEP has been the topic of several research reports. Bank of America dropped their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. TD Cowen decreased their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Jefferies Financial Group cut their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Royal Bank of Canada lowered their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo 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.