Catawba Capital Management VA lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,032 shares of the company’s stock after selling 2,312 shares during the quarter. PepsiCo accounts for about 1.4% of Catawba Capital Management VA’s investment portfolio, making the stock its 21st largest position. Catawba Capital Management VA’s holdings in PepsiCo were worth $6,120,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Professional Advisory Services Inc. grew its holdings in PepsiCo by 0.6% in the 4th quarter. Professional Advisory Services Inc. now owns 169,335 shares of the company’s stock valued at $20,307,000 after buying an additional 970 shares during the last quarter. Diversified Trust Co grew its holdings in shares of PepsiCo by 7.5% during the 4th quarter. Diversified Trust Co now owns 11,785 shares of the company’s stock worth $1,413,000 after purchasing an additional 827 shares in the last quarter. Saratoga Research & Investment Management grew its holdings in shares of PepsiCo by 0.4% during the 4th quarter. Saratoga Research & Investment Management now owns 268,730 shares of the company’s stock worth $32,226,000 after purchasing an additional 1,165 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of PepsiCo by 80.5% during the 4th quarter. State of Alaska Department of Revenue now owns 300,490 shares of the company’s stock worth $36,031,000 after purchasing an additional 134,001 shares in the last quarter. Finally, McCollum Christoferson Group LLC acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $6,661,000. 70.93% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo, Inc. (NASDAQ:PEP) opened at $112.75 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 3.03. The company has a market capitalization of $160,090.00, a P/E ratio of 22.15, a P/E/G ratio of 2.68 and a beta of 0.69. PepsiCo, Inc. has a 52-week low of $106.19 and a 52-week high of $122.51.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 2nd will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.22 annualized dividend and a dividend yield of 2.86%. PepsiCo’s dividend payout ratio (DPR) is presently 63.26%.
PepsiCo declared that its board has approved a stock buyback program on Tuesday, February 13th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several analysts have recently weighed in on PEP shares. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Monday, December 4th. SunTrust Banks started coverage on PepsiCo in a report on Monday, January 29th. They set a “hold” rating and a $125.00 price objective on the stock. Credit Suisse Group reissued a “neutral” rating and set a $124.00 price objective (up previously from $122.00) on shares of PepsiCo in a report on Thursday, February 1st. Wells Fargo & Co lifted their price objective on 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 PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PepsiCo presently has an average rating of “Hold” and a consensus price target 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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