Toronto Dominion Bank cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.5% in the 1st quarter, Holdings Channel reports. The fund owned 1,510,248 shares of the company’s stock after selling 122,463 shares during the quarter. Toronto Dominion Bank’s holdings in PepsiCo were worth $156,562,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of PepsiCo during the fourth quarter worth about $1,985,537,000. BlackRock Inc. increased its position in PepsiCo by 2.6% during the 1st quarter. BlackRock Inc. now owns 109,109,695 shares of the company’s stock worth $13,104,075,000 after purchasing an additional 2,724,092 shares during the period. Franklin Resources Inc. increased its position in PepsiCo by 13.2% during the 1st quarter. Franklin Resources Inc. now owns 11,136,832 shares of the company’s stock worth $1,337,534,000 after purchasing an additional 1,298,838 shares during the period. Swiss National Bank raised its stake in shares of PepsiCo by 21.1% during the 1st quarter. Swiss National Bank now owns 6,487,279 shares of the company’s stock worth $779,122,000 after buying an additional 1,131,600 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of PepsiCo by 17.6% in the 4th quarter. AQR Capital Management LLC now owns 6,494,987 shares of the company’s stock valued at $887,085,000 after buying an additional 972,837 shares during the period. 70.71% of the stock is owned by institutional investors.
PEP has been the subject of several research analyst reports. Guggenheim increased their price objective on PepsiCo from $134.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Goldman Sachs Group initiated coverage on shares of PepsiCo in a research note on Wednesday, April 1st. They set a “conviction-buy” rating on the stock. Credit Suisse Group upgraded shares of PepsiCo from an “underperform” rating to an “outperform” rating and raised their price objective for the company from $138.00 to $144.00 in a research note on Friday, March 27th. Evercore ISI raised shares of PepsiCo from an “in-line” rating to an “outperform” rating and set a $130.00 price objective on the stock in a report on Tuesday, March 17th. Finally, BidaskClub cut shares of PepsiCo from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 21st. Eight analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $142.00.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. The business had revenue of $13.88 billion for the quarter, compared to analyst estimates of $13.20 billion. PepsiCo had a return on equity of 55.74% and a net margin of 10.62%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share. As a group, research analysts predict that PepsiCo, Inc. will post 5.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a dividend of $1.0225 per share. This is a boost from PepsiCo’s previous quarterly dividend of $0.96. This represents a $4.09 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, June 4th. PepsiCo’s dividend payout ratio (DPR) is currently 69.08%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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