Richard C. Young & CO. LTD. lifted its position in shares of PepsiCo (NASDAQ:PEP) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,051 shares of the company’s stock after buying an additional 2,846 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in PepsiCo were worth $1,565,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First American Bank boosted its position in shares of PepsiCo by 0.8% in the fourth quarter. First American Bank now owns 325,831 shares of the company’s stock worth $39,073,000 after acquiring an additional 2,567 shares during the last quarter. Steinberg Global Asset Management boosted its position in shares of PepsiCo by 2.5% in the fourth quarter. Steinberg Global Asset Management now owns 94,351 shares of the company’s stock worth $11,315,000 after acquiring an additional 2,297 shares during the last quarter. Harbor Advisory Corp MA acquired a new stake in shares of PepsiCo in the fourth quarter worth approximately $2,744,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of PepsiCo by 233.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,500 shares of the company’s stock worth $180,000 after acquiring an additional 1,050 shares during the last quarter. Finally, Welch Investments LLC boosted its position in shares of PepsiCo by 2.9% in the fourth quarter. Welch Investments LLC now owns 40,418 shares of the company’s stock worth $4,847,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 71.05% of the company’s stock.
Several equities research analysts recently issued reports on the stock. SunTrust Banks decreased their target price on shares of PepsiCo to $105.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. Jefferies Group reissued a “hold” rating and issued a $113.00 target price on shares of PepsiCo in a research report on Tuesday, February 13th. ValuEngine cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Susquehanna Bancshares raised their target price on shares of PepsiCo from $137.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, February 12th. Finally, TheStreet cut shares of PepsiCo from a “b-” rating to a “c+” rating in a research report on Thursday, March 1st. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $120.36.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, April 26th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. The firm had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.37 billion. PepsiCo had a net margin of 7.62% and a return on equity of 62.43%. PepsiCo’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. equities research analysts anticipate that PepsiCo will post 5.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 1st will be given a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.80%. This is a boost from PepsiCo’s previous quarterly dividend of $0.81. The ex-dividend date is Thursday, May 31st. PepsiCo’s payout ratio is 61.57%.
PepsiCo declared that its Board of Directors has authorized a share 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 purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is 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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