Palladium Partners LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,673 shares of the company’s stock after purchasing an additional 6,600 shares during the quarter. Palladium Partners LLC’s holdings in PepsiCo were worth $13,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. AGF Investments Inc. grew its stake in shares of PepsiCo by 18.3% during the 1st quarter. AGF Investments Inc. now owns 235,324 shares of the company’s stock worth $25,686,000 after acquiring an additional 36,422 shares during the period. Vaughan David Investments LLC IL grew its stake in shares of PepsiCo by 1.0% during the 1st quarter. Vaughan David Investments LLC IL now owns 248,720 shares of the company’s stock worth $27,148,000 after acquiring an additional 2,577 shares during the period. Rossmore Private Capital grew its stake in shares of PepsiCo by 12.5% during the 1st quarter. Rossmore Private Capital now owns 6,175 shares of the company’s stock worth $674,000 after acquiring an additional 688 shares during the period. Gould Asset Management LLC CA grew its stake in shares of PepsiCo by 5.3% during the 1st quarter. Gould Asset Management LLC CA now owns 13,355 shares of the company’s stock worth $1,458,000 after acquiring an additional 670 shares during the period. Finally, Hedeker Wealth LLC grew its stake in shares of PepsiCo by 3.2% during the 1st quarter. Hedeker Wealth LLC now owns 22,495 shares of the company’s stock worth $2,455,000 after acquiring an additional 703 shares during the period. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Several research firms have recently weighed in on PEP. SunTrust Banks cut their price target on PepsiCo to $105.00 and set a “hold” rating for the company in a research note on Friday, April 27th. ValuEngine downgraded PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. BidaskClub upgraded PepsiCo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 12th. TheStreet downgraded PepsiCo from a “b-” rating to a “c+” rating in a research note on Thursday, March 1st. Finally, Barclays reiterated a “hold” rating and set a $108.00 price target on shares of PepsiCo in a research note on Monday, April 30th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $120.36.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, April 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $12.56 billion for the quarter, compared to analysts’ expectations of $12.37 billion. PepsiCo had a return on equity of 62.43% and a net margin of 7.62%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. research analysts expect that PepsiCo, Inc. will post 5.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be issued a dividend of $0.9275 per share. This is a boost from PepsiCo’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $3.71 dividend on an annualized basis and a yield of 3.42%. PepsiCo’s dividend payout ratio is 70.94%.
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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