OLD National Bancorp IN reduced its position in shares of PepsiCo (NASDAQ:PEP) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,896 shares of the company’s stock after selling 3,971 shares during the period. OLD National Bancorp IN’s holdings in PepsiCo were worth $8,862,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. raised its position in PepsiCo by 233.3% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,500 shares of the company’s stock valued at $180,000 after purchasing an additional 1,050 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of PepsiCo during the fourth quarter worth $197,000. Round Table Services LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $201,000. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of PepsiCo during the fourth quarter worth $201,000. Finally, Crescent Grove Advisors LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $203,000. Institutional investors and hedge funds own 70.91% of the company’s stock.
Several research analysts have recently issued reports on the stock. Jefferies Group reiterated a “hold” rating and set a $113.00 price target on shares of PepsiCo in a report on Tuesday, February 13th. Susquehanna Bancshares upped their price target on shares of PepsiCo from $137.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, February 12th. TheStreet downgraded shares of PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. Cowen reiterated a “buy” rating and set a $133.00 price target on shares of PepsiCo in a report on Tuesday, January 9th. Finally, JPMorgan Chase lowered their price target on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $123.04.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. The company had revenue of $19.53 billion for the quarter, compared to analysts’ expectations of $19.40 billion. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. sell-side analysts expect that PepsiCo will post 5.7 EPS for the current fiscal year.
The business also recently disclosed 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. The ex-dividend date was Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a dividend yield of 3.14%. PepsiCo’s dividend payout ratio (DPR) is presently 61.57%.
PepsiCo declared that its board has initiated a share buyback program on Tuesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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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