Allegiance Financial Group Advisory Services LLC bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,332 shares of the company’s stock, valued at approximately $203,000.
Several other large investors also recently bought and sold shares of PEP. State Street Corp raised its position in PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the period. Franklin Resources Inc. grew its holdings in shares of PepsiCo by 21.1% in the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock valued at $2,293,049,000 after purchasing an additional 2,264,445 shares during the period. Swedbank AB grew its holdings in shares of PepsiCo by 211.4% in the third quarter. Swedbank AB now owns 2,345,467 shares of the company’s stock valued at $398,847,000 after purchasing an additional 1,592,343 shares during the period. Van ECK Associates Corp grew its holdings in shares of PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company’s stock valued at $258,158,000 after purchasing an additional 1,328,672 shares during the period. Finally, Vontobel Holding Ltd. boosted its stake in PepsiCo by 62.4% during the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock worth $458,324,000 after buying an additional 1,157,835 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $183.00 to $165.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. TD Cowen reduced their target price on shares of PepsiCo from $183.00 to $160.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. CICC Research reissued a “market perform” rating on shares of PepsiCo in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of PepsiCo from $184.00 to $178.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.47.
PepsiCo Stock Down 3.1 %
PEP opened at $151.51 on Thursday. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41. The business has a 50-day moving average of $148.56 and a 200-day moving average of $161.80. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market capitalization of $207.80 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 3.09 and a beta of 0.54.
PepsiCo (NASDAQ:PEP – Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.02. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $27.78 billion for the quarter, compared to analyst estimates of $27.89 billion. During the same quarter last year, the firm posted $1.78 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo’s payout ratio is presently 77.99%.
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.
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