Halbert Hargrove Russell LLC acquired a new stake in shares of PepsiCo (NASDAQ:PEP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,910 shares of the company’s stock, valued at approximately $229,000.
Several other large investors have also bought and sold shares of PEP. North Star Asset Management Inc. lifted its stake in PepsiCo by 41.8% during the fourth quarter. North Star Asset Management Inc. now owns 26,561 shares of the company’s stock valued at $3,185,000 after buying an additional 7,828 shares in the last quarter. Victory Capital Management Inc. lifted its stake in PepsiCo by 7.3% during the fourth quarter. Victory Capital Management Inc. now owns 188,533 shares of the company’s stock valued at $22,608,000 after buying an additional 12,803 shares in the last quarter. Harrington Investments INC purchased a new stake in PepsiCo during the fourth quarter valued at about $251,000. TCI Wealth Advisors Inc. lifted its stake in PepsiCo by 3.1% during the fourth quarter. TCI Wealth Advisors Inc. now owns 16,761 shares of the company’s stock valued at $2,010,000 after buying an additional 500 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in PepsiCo during the fourth quarter valued at about $7,288,000. Institutional investors own 70.84% of the company’s stock.
A number of research firms have commented on PEP. Stifel Nicolaus reaffirmed a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a research note on Friday, December 22nd. BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Jefferies Group reaffirmed a “hold” rating and set a $113.00 price objective on shares of PepsiCo in a research note on Tuesday, February 13th. SunTrust Banks reduced their price objective on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, February 14th. Finally, Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $123.04.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. The business had revenue of $19.53 billion during the quarter, compared to analyst estimates of $19.40 billion. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. sell-side analysts predict that PepsiCo will post 5.7 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a yield of 2.95%. The ex-dividend date was Thursday, March 1st. PepsiCo’s payout ratio is presently 61.57%.
PepsiCo declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 13th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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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