Liberty Capital Management Inc. decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.3% in the 4th quarter, HoldingsChannel reports. The fund owned 14,509 shares of the company’s stock after selling 650 shares during the quarter. Liberty Capital Management Inc.’s holdings in PepsiCo were worth $1,703,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Prudential Financial Inc. grew its position in PepsiCo by 26.1% during the third quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock valued at $485,168,000 after buying an additional 899,911 shares during the period. Confluence Investment Management LLC grew its position in PepsiCo by 2.0% during the fourth quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock valued at $138,418,000 after buying an additional 22,364 shares during the period. Chesley Taft & Associates LLC grew its position in PepsiCo by 0.3% during the fourth quarter. Chesley Taft & Associates LLC now owns 250,366 shares of the company’s stock valued at $30,024,000 after buying an additional 686 shares during the period. Gillespie Robinson & Grimm Inc. grew its position in PepsiCo by 2.8% during the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 209,803 shares of the company’s stock valued at $25,160,000 after buying an additional 5,738 shares during the period. Finally, LGT Capital Partners LTD. grew its position in PepsiCo by 2.2% during the fourth quarter. LGT Capital Partners LTD. now owns 177,753 shares of the company’s stock valued at $21,316,000 after buying an additional 3,780 shares during the period. Hedge funds and other institutional investors own 69.98% of the company’s stock.
PEP has been the subject of several research reports. Royal Bank of Canada restated a “hold” rating on shares of PepsiCo in a research report on Sunday, November 12th. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Monday, December 4th. Deutsche Bank started coverage on shares of PepsiCo in a report on Wednesday, December 13th. They set a “buy” rating and a $132.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a report on Friday, December 22nd. Finally, Wells Fargo & Co upped their price objective on shares of PepsiCo from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $123.04.
Shares of PepsiCo, Inc. (NASDAQ PEP) opened at $109.58 on Wednesday. PepsiCo, Inc. has a fifty-two week low of $106.19 and a fifty-two week high of $122.51. The stock has a market cap of $155,380.53, a PE ratio of 32.52, a PEG ratio of 2.75 and a beta of 0.69. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.51 and a quick ratio of 1.37.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The firm 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 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. research analysts predict that PepsiCo, Inc. will post 5.69 EPS for the current year.
PepsiCo announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 13th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Thursday, March 1st. PepsiCo’s payout ratio is 95.55%.
PepsiCo Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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