Field & Main Bank purchased a new stake in shares of PepsiCo (NASDAQ:PEP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,797 shares of the company’s stock, valued at approximately $935,000.
A number of other institutional investors have also recently bought and sold shares of the business. Bremer Trust National Association increased its stake in shares of PepsiCo by 6.9% in the 4th quarter. Bremer Trust National Association now owns 6,763 shares of the company’s stock worth $811,000 after purchasing an additional 435 shares in the last quarter. Perkins Coie Trust Co lifted its holdings in shares of PepsiCo by 1.5% in the 4th quarter. Perkins Coie Trust Co now owns 29,180 shares of the company’s stock valued at $3,499,000 after acquiring an additional 435 shares during the last quarter. Horrell Capital Management Inc. lifted its holdings in shares of PepsiCo by 1.9% in the 4th quarter. Horrell Capital Management Inc. now owns 30,075 shares of the company’s stock valued at $3,607,000 after acquiring an additional 571 shares during the last quarter. First Manhattan Co. raised its position in PepsiCo by 0.4% in the 4th quarter. First Manhattan Co. now owns 154,469 shares of the company’s stock worth $18,524,000 after purchasing an additional 591 shares during the period. Finally, Summit X LLC raised its position in PepsiCo by 11.7% in the 4th quarter. Summit X LLC now owns 5,681 shares of the company’s stock worth $686,000 after purchasing an additional 594 shares during the period. 70.95% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on PEP. BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Stifel Nicolaus reissued a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a report on Friday, December 22nd. JPMorgan Chase cut their price objective on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. SunTrust Banks lowered their target price on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, February 14th. Finally, Jefferies Group reiterated a “hold” rating and set a $113.00 price objective on shares of PepsiCo in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $123.04.
PEP traded down $0.37 during trading hours on Thursday, hitting $108.31. 2,691,587 shares of the company’s stock were exchanged, compared to its average volume of 4,513,514. PepsiCo has a 12-month low of $105.94 and a 12-month high of $122.51. The company has a market cap of $155,287.28, a P/E ratio of 20.71, a PEG ratio of 2.59 and a beta of 0.66. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 3.03.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The company had revenue of $19.53 billion for the quarter, compared to the consensus estimate of $19.40 billion. During the same period in the prior year, the firm posted $1.20 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. research analysts forecast that PepsiCo will post 5.7 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 2nd were issued a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, March 1st. PepsiCo’s payout ratio is 61.57%.
PepsiCo announced that its Board of Directors has authorized a share buyback program on Tuesday, February 13th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
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PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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