Capital Investment Advisors LLC decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 49.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,090 shares of the company’s stock after selling 26,828 shares during the quarter. Capital Investment Advisors LLC’s holdings in PepsiCo were worth $3,249,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of PepsiCo in the 4th quarter valued at $201,000. Oakmont Partners LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at $220,000. KCS Wealth Advisory purchased a new stake in shares of PepsiCo in the 4th quarter valued at $239,000. White Lighthouse Investment Management Inc. purchased a new stake in shares of PepsiCo in the 4th quarter valued at $240,000. Finally, Pure Financial Advisors Inc. purchased a new stake in shares of PepsiCo in the 4th quarter valued at $295,000. 69.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PepsiCo, Inc. (NASDAQ:PEP) opened at $112.54 on Friday. The firm has a market cap of $160,450.00, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 2.67 and a beta of 0.69. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 3.03. PepsiCo, Inc. has a 12-month low of $106.19 and a 12-month high of $122.51.
PepsiCo declared that its Board of Directors has approved a stock buyback program on Tuesday, February 13th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 2nd will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.22 annualized dividend and a yield of 2.86%. PepsiCo’s payout ratio is currently 63.26%.
PEP has been the subject of a number of research reports. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research note on Monday, December 4th. SunTrust Banks initiated coverage on shares of PepsiCo in a research note on Monday, January 29th. They issued a “hold” rating and a $125.00 price objective for the company. Credit Suisse Group reaffirmed a “neutral” rating and issued a $124.00 price objective (up previously from $122.00) on shares of PepsiCo in a research note on Thursday, February 1st. 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 research note on Thursday, January 4th. Finally, BidaskClub cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. PepsiCo has an average rating of “Hold” and an average price target of $123.04.
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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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