Rice Hall James & Associates LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,972 shares of the company’s stock after selling 1,253 shares during the period. Rice Hall James & Associates LLC’s holdings in PepsiCo were worth $1,436,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its position 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 during the period. Prudential Financial Inc. grew 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 valued at $485,168,000 after acquiring an additional 899,911 shares during the period. Acadian Asset Management LLC grew its position in shares of PepsiCo by 2.7% during the 4th quarter. Acadian Asset Management LLC now owns 3,455,423 shares of the company’s stock valued at $414,373,000 after acquiring an additional 91,586 shares during the period. Confluence Investment Management LLC grew 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 valued at $138,418,000 after acquiring an additional 22,364 shares during the period. Finally, National Pension Service grew its position in shares of PepsiCo by 4.0% during the 4th quarter. National Pension Service now owns 1,124,403 shares of the company’s stock valued at $134,838,000 after acquiring an additional 43,427 shares during the period. 70.93% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on PEP. BidaskClub downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Stifel Nicolaus reissued a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a research report on Friday, December 22nd. Jefferies Group reissued a “hold” rating and set a $113.00 price objective on shares of PepsiCo in a research report on Tuesday, February 13th. SunTrust Banks cut their price objective on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $123.04.
PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.01. The company had revenue of $19.53 billion during the quarter, compared to the consensus estimate of $19.40 billion. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. PepsiCo’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. analysts expect that PepsiCo, Inc. will post 5.7 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 2nd will be issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.88%. The ex-dividend date is Thursday, March 1st. PepsiCo’s dividend payout ratio is currently 95.55%.
PepsiCo declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 13th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
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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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