State of Alaska Department of Revenue grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 80.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,490 shares of the company’s stock after buying an additional 134,001 shares during the quarter. PepsiCo accounts for about 0.9% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 14th biggest holding. State of Alaska Department of Revenue’s holdings in PepsiCo were worth $36,031,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in PEP. Prudential Financial Inc. boosted its holdings in PepsiCo by 26.1% during the third quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock worth $485,168,000 after purchasing an additional 899,911 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in PepsiCo by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 8,126,159 shares of the company’s stock worth $974,344,000 after purchasing an additional 252,631 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in PepsiCo by 2.7% during the fourth quarter. Acadian Asset Management LLC now owns 3,455,423 shares of the company’s stock worth $414,373,000 after purchasing an additional 91,586 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in PepsiCo by 9.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 986,296 shares of the company’s stock worth $118,277,000 after purchasing an additional 82,103 shares during the last quarter. Finally, Vontobel Asset Management Inc. boosted its holdings in PepsiCo by 13.8% during the fourth quarter. Vontobel Asset Management Inc. now owns 677,378 shares of the company’s stock worth $81,230,000 after purchasing an additional 82,034 shares during the last quarter. Institutional investors own 70.93% of the company’s stock.
PEP has been the subject of several recent research reports. Zacks Investment Research upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Monday, December 4th. SunTrust Banks initiated coverage on shares of PepsiCo in a report on Monday, January 29th. They set a “hold” rating and a $125.00 target price for the company. Credit Suisse Group restated a “neutral” rating and set a $124.00 target price (up previously from $122.00) on shares of PepsiCo in a report on Thursday, February 1st. Wells Fargo & Co increased their target price on shares of PepsiCo from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, January 4th. Finally, BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has assigned 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 (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The firm had revenue of $19.53 billion for the quarter, compared to analyst estimates of $19.40 billion. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. equities analysts anticipate that PepsiCo, Inc. will post 5.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, March 1st. PepsiCo’s payout ratio is presently 63.26%.
PepsiCo declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 13th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
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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