Rossmore Private Capital grew its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,711 shares of the company’s stock after acquiring an additional 4,665 shares during the quarter. Rossmore Private Capital’s holdings in PepsiCo were worth $5,031,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of PepsiCo by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock worth $19,875,205,000 after acquiring an additional 1,612,652 shares during the last quarter. State Street Corp increased its stake in shares of PepsiCo by 1.8% in the 3rd quarter. State Street Corp now owns 59,499,819 shares of the company’s stock worth $8,356,155,000 after acquiring an additional 1,079,970 shares during the last quarter. Invesco Ltd. increased its stake in shares of PepsiCo by 7.6% in the 3rd quarter. Invesco Ltd. now owns 13,617,747 shares of the company’s stock worth $1,912,476,000 after acquiring an additional 958,701 shares during the last quarter. Legal & General Group Plc increased its stake in shares of PepsiCo by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 8,902,664 shares of the company’s stock worth $1,250,290,000 after acquiring an additional 118,286 shares during the last quarter. Finally, Amundi increased its stake in shares of PepsiCo by 30.0% in the 3rd quarter. Amundi now owns 8,641,588 shares of the company’s stock worth $1,207,230,000 after acquiring an additional 1,995,362 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Citigroup raised their target price on PepsiCo from $170.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Morgan Stanley increased their price target on PepsiCo from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 4th. The Goldman Sachs Group increased their price target on PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 17th. TD Cowen increased their price target on PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Finally, Evercore increased their price target on PepsiCo from $165.00 to $170.00 in a report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $170.37.
PepsiCo Stock Performance
NASDAQ PEP opened at $149.12 on Monday. The stock has a fifty day simple moving average of $155.25 and a 200-day simple moving average of $152.41. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The stock has a market cap of $203.81 billion, a PE ratio of 23.41, a P/E/G ratio of 2.73 and a beta of 0.38. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98.
PepsiCo (NASDAQ:PEP – Get Free Report) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. During the same period last year, the business posted $1.48 EPS. PepsiCo’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 8.63 earnings per share for the current year.
PepsiCo declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to repurchase up to 4.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be issued a dividend of $1.48 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a yield of 4.0%. PepsiCo’s dividend payout ratio (DPR) is 89.32%.
About PepsiCo
PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.
Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.
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