Cambridge Investment Research Advisors Inc. boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 338,098 shares of the company’s stock after acquiring an additional 11,088 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in PepsiCo were worth $48,524,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. JCIC Asset Management Inc. acquired a new stake in PepsiCo in the third quarter valued at about $27,000. MH & Associates Securities Management Corp ADV acquired a new stake in PepsiCo in the fourth quarter valued at about $29,000. Imprint Wealth LLC acquired a new stake in PepsiCo in the third quarter valued at about $31,000. Strategic Advocates LLC acquired a new stake in PepsiCo in the third quarter valued at about $33,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in PepsiCo in the fourth quarter valued at about $33,000. 73.07% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently commented on PEP shares. Rothschild & Co Redburn lifted their price target on PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Wall Street Zen lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Citigroup lifted their price target on PepsiCo from $170.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Piper Sandler lifted their price target on PepsiCo from $172.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, UBS Group cut their price target on PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $170.37.
PepsiCo Price Performance
PepsiCo stock opened at $149.12 on Monday. The stock’s 50 day moving average is $155.25 and its 200 day moving average is $152.41. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The firm has a market cap of $203.81 billion, a P/E ratio of 23.41, a P/E/G ratio of 2.73 and a beta of 0.38. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The company had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 earnings per share. As a group, research analysts expect that PepsiCo, Inc. will post 8.63 EPS for the current year.
PepsiCo Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.48 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s payout ratio is presently 89.32%.
PepsiCo announced that its Board of Directors has authorized a share buyback program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
PepsiCo Company Profile
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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