Highstreet Asset Management Inc. raised its position in shares of PepsiCo (NASDAQ:PEP) by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,570 shares of the company’s stock after acquiring an additional 2,228 shares during the quarter. Highstreet Asset Management Inc.’s holdings in PepsiCo were worth $3,306,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. First American Bank boosted its position in shares of PepsiCo by 0.8% in the 4th quarter. First American Bank now owns 325,831 shares of the company’s stock worth $39,073,000 after purchasing an additional 2,567 shares in the last quarter. Harbor Advisory Corp MA bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $2,744,000. LGT Capital Partners LTD. boosted its position in shares of PepsiCo by 2.2% in the 4th quarter. LGT Capital Partners LTD. now owns 177,753 shares of the company’s stock worth $21,316,000 after purchasing an additional 3,780 shares in the last quarter. Trust Department MB Financial Bank N A boosted its position in shares of PepsiCo by 17.4% in the 4th quarter. Trust Department MB Financial Bank N A now owns 94,650 shares of the company’s stock worth $11,350,000 after purchasing an additional 14,056 shares in the last quarter. Finally, Rockland Trust Co. boosted its position in shares of PepsiCo by 2.7% in the 4th quarter. Rockland Trust Co. now owns 145,893 shares of the company’s stock worth $17,495,000 after purchasing an additional 3,876 shares in the last quarter. 70.84% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on PEP shares. SunTrust Banks started coverage on PepsiCo in a research report on Monday, January 29th. They issued a “hold” rating and a $125.00 price target on the stock. Credit Suisse Group reissued a “neutral” rating and issued a $124.00 price target (up from $122.00) on shares of PepsiCo in a research report on Thursday, February 1st. Wells Fargo boosted their price target on PepsiCo from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, January 4th. BidaskClub cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. PepsiCo currently has an average rating of “Hold” and an average target price of $123.04.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share 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 company had revenue of $19.53 billion during the quarter, compared to analyst estimates of $19.40 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. sell-side analysts expect that PepsiCo will post 5.7 earnings per share for the current fiscal year.
PepsiCo declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 13th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were issued a $0.805 dividend. The ex-dividend date was Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a yield of 2.95%. PepsiCo’s payout ratio is currently 61.57%.
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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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