Wafra Investment Advisory Group Inc. NY increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 30.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,590 shares of the company’s stock after buying an additional 47,837 shares during the quarter. PepsiCo comprises approximately 1.1% of Wafra Investment Advisory Group Inc. NY’s holdings, making the stock its 13th largest position. Wafra Investment Advisory Group Inc. NY’s holdings in PepsiCo were worth $24,295,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Pinnacle Wealth Planning Services Inc. bought a new position in shares of PepsiCo in the fourth quarter worth $140,000. Rational Advisors LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at $168,000. Almanack Investment Partners LLC. lifted its holdings in shares of PepsiCo by 48.5% in the fourth quarter. Almanack Investment Partners LLC. now owns 1,452 shares of the company’s stock valued at $175,000 after buying an additional 474 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings 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 valued at $180,000 after buying an additional 1,050 shares during the period. Finally, Focused Wealth Management Inc lifted its holdings in shares of PepsiCo by 413.3% in the fourth quarter. Focused Wealth Management Inc now owns 1,617 shares of the company’s stock valued at $194,000 after buying an additional 1,302 shares during the period. Hedge funds and other institutional investors own 69.85% of the company’s stock.
Several analysts have recently weighed in on the company. BidaskClub upgraded PepsiCo from a “strong sell” rating to a “sell” rating in a report on Thursday. JPMorgan Chase & Co. cut their price objective on PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. SunTrust Banks cut 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. Jefferies Group reaffirmed a “hold” rating and set a $113.00 target price on shares of PepsiCo in a report on Tuesday, February 13th. Finally, Susquehanna Bancshares set a $130.00 target price on PepsiCo and gave the company a “buy” rating in a report on Friday, May 4th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. PepsiCo has a consensus rating of “Hold” and an average target price of $120.36.
Shares of PepsiCo opened at $100.18 on Friday, according to Marketbeat Ratings. PepsiCo, Inc. has a 12 month low of $95.94 and a 12 month high of $122.51. The firm has a market cap of $142.42 billion, a PE ratio of 19.15, a P/E/G ratio of 2.32 and a beta of 0.67. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.28 and a quick ratio of 1.15.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.37 billion. PepsiCo had a return on equity of 62.43% and a net margin of 7.62%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. research analysts anticipate that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be paid a $0.9275 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $0.81. This represents a $3.71 annualized dividend and a yield of 3.70%. The ex-dividend date is Thursday, May 31st. PepsiCo’s dividend payout ratio is currently 61.57%.
PepsiCo announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management 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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