Koshinski Asset Management Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 138.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,883 shares of the company’s stock after acquiring an additional 10,397 shares during the quarter. Koshinski Asset Management Inc.’s holdings in PepsiCo were worth $2,145,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of PEP. Prudential Financial Inc. lifted its position in shares of PepsiCo by 26.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock worth $485,168,000 after purchasing an additional 899,911 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of PepsiCo during the 4th quarter worth $201,000. Confluence Investment Management LLC lifted its position in shares of PepsiCo by 2.0% during the 4th quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock worth $138,418,000 after purchasing an additional 22,364 shares during the last quarter. Gillespie Robinson & Grimm Inc. lifted its position in shares of PepsiCo by 2.8% during the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 209,803 shares of the company’s stock worth $25,160,000 after purchasing an additional 5,738 shares during the last quarter. Finally, Chesley Taft & Associates LLC lifted its position in shares of PepsiCo by 0.3% during the 4th quarter. Chesley Taft & Associates LLC now owns 250,366 shares of the company’s stock worth $30,024,000 after purchasing an additional 686 shares during the last quarter. 69.98% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. SunTrust Banks assumed coverage on shares of PepsiCo in a research report on Monday, January 29th. They set a “hold” rating and a $125.00 price objective for the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $124.00 price objective (up from $122.00) on shares of PepsiCo in a research report on Thursday, February 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a research report on Friday, December 22nd. Cowen reaffirmed a “buy” rating and set a $133.00 price objective on shares of PepsiCo in a research report on Tuesday, January 9th. Finally, Deutsche Bank assumed coverage on shares of PepsiCo in a research report on Wednesday, December 13th. They set a “buy” rating and a $132.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $123.04.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $19.40 billion. During the same period in the previous year, the company earned $1.20 earnings per share. PepsiCo’s quarterly revenue was up .1% compared to the same quarter last year. equities analysts predict that PepsiCo, Inc. will post 5.7 EPS for the current year.
PepsiCo announced that its Board of Directors has authorized a share repurchase plan 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. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 2nd will be given a $0.805 dividend. The ex-dividend date is Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a yield of 2.86%. PepsiCo’s dividend payout ratio (DPR) is presently 63.26%.
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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