Saratoga Research & Investment Management grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 268,730 shares of the company’s stock after purchasing an additional 1,165 shares during the quarter. PepsiCo makes up approximately 2.3% of Saratoga Research & Investment Management’s portfolio, making the stock its 20th biggest position. Saratoga Research & Investment Management’s holdings in PepsiCo were worth $32,226,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Rockland Trust Co. raised its holdings in shares of PepsiCo by 2.7% during the fourth quarter. Rockland Trust Co. now owns 145,893 shares of the company’s stock valued at $17,495,000 after acquiring an additional 3,876 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of PepsiCo by 26.1% during the third quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock valued at $485,168,000 after acquiring an additional 899,911 shares in the last quarter. LGT Capital Partners LTD. raised its holdings in shares of PepsiCo by 2.2% during the fourth quarter. LGT Capital Partners LTD. now owns 177,753 shares of the company’s stock valued at $21,316,000 after acquiring an additional 3,780 shares in the last quarter. Broadleaf Partners LLC bought a new position in shares of PepsiCo during the fourth quarter valued at approximately $448,000. Finally, Indiana Trust & Investment Management CO raised its holdings in shares of PepsiCo by 11.8% during the fourth quarter. Indiana Trust & Investment Management CO now owns 28,309 shares of the company’s stock valued at $3,395,000 after acquiring an additional 2,998 shares in the last quarter. 70.93% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on PEP. Jefferies Group restated a “hold” rating and set a $113.00 target price on shares of PepsiCo in a report on Tuesday, February 13th. Zacks Investment Research upgraded PepsiCo from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Susquehanna Bancshares upped their target price on PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a report on Monday, February 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $120.00 price objective on shares of PepsiCo in a report on Friday, December 22nd. Finally, TheStreet downgraded PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. PepsiCo currently has an average rating of “Hold” and a consensus price target of $123.04.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 13th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.01. PepsiCo had a return on equity of 61.14% and a net margin of 7.65%. The firm had revenue of $19.53 billion for the quarter, compared to analysts’ expectations of $19.40 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. equities analysts forecast that PepsiCo, Inc. will post 5.7 EPS for the current year.
PepsiCo announced that its board has approved a share repurchase 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. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be paid a $0.805 dividend. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.86%. PepsiCo’s dividend payout ratio is currently 63.26%.
COPYRIGHT VIOLATION WARNING: “Saratoga Research & Investment Management Has $32.23 Million Stake in PepsiCo, Inc. (PEP)” was originally published by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/03/13/saratoga-research-investment-management-has-32-23-million-stake-in-pepsico-inc-pep.html.
PepsiCo Company Profile
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).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.