Novare Capital Management LLC raised its holdings in PepsiCo (NASDAQ:PEP) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,549 shares of the company’s stock after buying an additional 652 shares during the quarter. PepsiCo accounts for 1.7% of Novare Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Novare Capital Management LLC’s holdings in PepsiCo were worth $9,779,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of PepsiCo by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 8,126,159 shares of the company’s stock valued at $974,344,000 after acquiring an additional 252,631 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of PepsiCo by 6.6% during the fourth quarter. APG Asset Management N.V. now owns 6,708,832 shares of the company’s stock valued at $669,989,000 after acquiring an additional 413,900 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of PepsiCo by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,081,028 shares of the company’s stock valued at $729,237,000 after acquiring an additional 187,135 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of PepsiCo by 3.2% during the fourth quarter. Russell Investments Group Ltd. now owns 4,546,142 shares of the company’s stock valued at $542,349,000 after acquiring an additional 142,051 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of PepsiCo by 26.1% during the third 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 in the last quarter. 70.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PepsiCo stock opened at $106.98 on Thursday. PepsiCo has a 12-month low of $105.94 and a 12-month high of $122.51. The firm has a market cap of $156,025.39, a P/E ratio of 20.46, a P/E/G ratio of 2.60 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 declared that its board has authorized a stock buyback program on Tuesday, February 13th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were given a $0.805 dividend. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $3.22 annualized dividend and a yield of 3.01%. PepsiCo’s dividend payout ratio is currently 61.57%.
Several research firms have recently commented on PEP. Stifel Nicolaus restated a “hold” rating and set a $120.00 price objective on shares of PepsiCo in a report on Friday, December 22nd. Goldman Sachs restated a “sell” rating on shares of PepsiCo in a report on Tuesday. BidaskClub downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Jefferies Group restated a “hold” rating and set a $113.00 price objective on shares of PepsiCo in a report on Tuesday, February 13th. Finally, SunTrust Banks decreased their price objective on PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. PepsiCo has an average rating of “Hold” and an average price target of $123.04.
PepsiCo Company Profile
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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