Headinvest LLC decreased its stake in PepsiCo (NASDAQ:PEP) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,041 shares of the company’s stock after selling 1,185 shares during the period. PepsiCo accounts for 2.1% of Headinvest LLC’s portfolio, making the stock its 8th largest position. Headinvest LLC’s holdings in PepsiCo were worth $6,840,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garrison Financial Corp raised its stake in PepsiCo by 1.7% during the 4th quarter. Garrison Financial Corp now owns 33,192 shares of the company’s stock valued at $3,980,000 after acquiring an additional 565 shares in the last quarter. Fulcrum Capital LLC bought a new stake in PepsiCo during the 4th quarter valued at $5,123,000. Northern Capital Management LLC raised its stake in PepsiCo by 58.7% during the 4th quarter. Northern Capital Management LLC now owns 17,991 shares of the company’s stock valued at $2,157,000 after acquiring an additional 6,655 shares in the last quarter. Welch Investments LLC raised its stake in PepsiCo by 2.9% during the 4th quarter. Welch Investments LLC now owns 40,418 shares of the company’s stock valued at $4,847,000 after acquiring an additional 1,143 shares in the last quarter. Finally, Burt Wealth Advisors raised its stake in PepsiCo by 34.4% during the 4th quarter. Burt Wealth Advisors now owns 2,878 shares of the company’s stock valued at $345,000 after acquiring an additional 737 shares in the last quarter. 70.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of PEP stock opened at $109.15 on Friday. PepsiCo has a 1 year low of $105.94 and a 1 year high of $122.51. The firm has a market cap of $154,932.42, a PE ratio of 20.87, a PEG ratio of 2.58 and a beta of 0.69. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.37 and a current ratio of 1.51.
The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Thursday, March 1st. PepsiCo’s payout ratio is 61.57%.
PepsiCo declared that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Several brokerages have weighed in on PEP. TheStreet downgraded PepsiCo from a “b-” rating to a “c+” rating in a research note on Thursday, March 1st. SunTrust Banks cut their target price on PepsiCo from $125.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase cut their target price on PepsiCo from $127.00 to $124.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Jefferies Group reaffirmed a “hold” rating and set a $113.00 target price on shares of PepsiCo in a research note on Tuesday, February 13th. Finally, Susquehanna Bancshares lifted their target price on PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $123.04.
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PepsiCo Company Profile
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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