Wesbanco Bank Inc. Reduces Stake in PepsiCo (PEP)

Wesbanco Bank Inc. lessened its holdings in shares of PepsiCo (NASDAQ:PEP) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 162,784 shares of the company’s stock after selling 14,692 shares during the period. PepsiCo accounts for approximately 1.3% of Wesbanco Bank Inc.’s holdings, making the stock its 18th biggest position. Wesbanco Bank Inc.’s holdings in PepsiCo were worth $19,521,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its stake in PepsiCo by 3.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 8,126,159 shares of the company’s stock worth $974,344,000 after purchasing an additional 252,631 shares in the last quarter. APG Asset Management N.V. boosted its stake in PepsiCo by 6.6% in the 4th quarter. APG Asset Management N.V. now owns 6,708,832 shares of the company’s stock worth $669,989,000 after purchasing an additional 413,900 shares in the last quarter. Fisher Asset Management LLC boosted its stake in PepsiCo by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 6,081,028 shares of the company’s stock worth $729,237,000 after purchasing an additional 187,135 shares in the last quarter. Prudential Financial Inc. boosted its stake in PepsiCo by 26.1% in 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 in the last quarter. Finally, Sanders Capital LLC boosted its stake in PepsiCo by 2.3% in the 4th quarter. Sanders Capital LLC now owns 4,092,025 shares of the company’s stock worth $536,421,000 after purchasing an additional 92,200 shares in the last quarter. Hedge funds and other institutional investors own 70.84% of the company’s stock.

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A number of brokerages recently issued reports on PEP. Jefferies Group reiterated a “hold” rating and issued a $113.00 price target on shares of PepsiCo in a research note on Tuesday, February 13th. Zacks Investment Research raised PepsiCo from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Susquehanna Bancshares boosted their target price on PepsiCo from $137.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, February 12th. Stifel Nicolaus reissued a “hold” rating and issued a $120.00 target price on shares of PepsiCo in a research report on Friday, December 22nd. Finally, TheStreet lowered PepsiCo from a “b-” rating to a “c+” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $123.04.

NASDAQ PEP opened at $110.57 on Friday. PepsiCo has a 52 week low of $105.94 and a 52 week high of $122.51. The stock has a market cap of $153,569.75, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.56 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 released its quarterly earnings results on Tuesday, February 13th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $19.53 billion during the quarter, compared to analyst estimates of $19.40 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. sell-side analysts forecast that PepsiCo will post 5.7 EPS for the current fiscal year.

PepsiCo announced that its board has approved a stock buyback plan on Tuesday, February 13th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 2nd were given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, March 1st. PepsiCo’s payout ratio is currently 61.57%.

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About PepsiCo

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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