McCollum Christoferson Group LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 55,547 shares of the company’s stock, valued at approximately $6,661,000. PepsiCo makes up about 2.8% of McCollum Christoferson Group LLC’s holdings, making the stock its 7th biggest holding.
A number of other hedge funds also recently added to or reduced their stakes in PEP. First National Bank of Mount Dora Trust Investment Services bought a new position in shares of PepsiCo during the 4th quarter valued at $201,000. Bouchey Financial Group Ltd bought a new position in shares of PepsiCo during the 4th quarter valued at $214,000. Oakmont Partners LLC bought a new position in shares of PepsiCo during the 4th quarter valued at $220,000. KCS Wealth Advisory bought a new position in shares of PepsiCo during the 4th quarter valued at $239,000. Finally, White Lighthouse Investment Management Inc. bought a new position in shares of PepsiCo during the 4th quarter valued at $240,000. Institutional investors own 70.93% of the company’s stock.
PepsiCo, Inc. (NASDAQ PEP) opened at $112.75 on Tuesday. The company has a market cap of $160,090.00, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.68 and a beta of 0.69. PepsiCo, Inc. has a twelve month low of $106.19 and a twelve month high of $122.51. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 3.03.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 2nd will be issued a $0.805 dividend. The ex-dividend date is Thursday, March 1st. This represents a $3.22 annualized dividend and a yield of 2.86%. PepsiCo’s dividend payout ratio (DPR) is presently 63.26%.
PepsiCo declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 13th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts have recently weighed in on the stock. Jefferies Group restated a “hold” rating and set a $113.00 price target on shares of PepsiCo in a report on Tuesday, February 13th. Zacks Investment Research upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Susquehanna Bancshares raised their price target on shares of PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a report on Monday, February 12th. Stifel Nicolaus restated a “hold” rating and set a $120.00 price target on shares of PepsiCo in a report on Friday, December 22nd. Finally, TheStreet downgraded shares of PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $123.04.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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