New Capital Management LP grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 136.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,595 shares of the company’s stock after purchasing an additional 33,779 shares during the period. PepsiCo accounts for about 8.6% of New Capital Management LP’s investment portfolio, making the stock its 3rd largest position. New Capital Management LP’s holdings in PepsiCo were worth $7,027,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. lifted its holdings in shares of PepsiCo by 3.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 8,126,159 shares of the company’s stock worth $974,344,000 after acquiring an additional 252,631 shares during the period. Prudential Financial Inc. lifted its holdings in shares of PepsiCo by 26.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock worth $485,168,000 after acquiring an additional 899,911 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of PepsiCo by 2.7% during the 4th quarter. Acadian Asset Management LLC now owns 3,455,423 shares of the company’s stock worth $414,373,000 after acquiring an additional 91,586 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of PepsiCo by 2.0% during the 4th quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock worth $138,418,000 after acquiring an additional 22,364 shares during the period. Finally, National Pension Service lifted its holdings in shares of PepsiCo by 4.0% during the 4th quarter. National Pension Service now owns 1,124,403 shares of the company’s stock worth $134,838,000 after acquiring an additional 43,427 shares during the period. 70.93% of the stock is currently owned by institutional investors.
Several research firms recently commented on PEP. BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Stifel Nicolaus restated a “hold” rating and issued a $120.00 price target on shares of PepsiCo in a report on Friday, December 22nd. Jefferies Group restated a “hold” rating and issued a $113.00 price target on shares of PepsiCo in a report on Tuesday, February 13th. SunTrust Banks cut their price target on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $123.04.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.01. The company 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 business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. sell-side analysts forecast that PepsiCo, Inc. will post 5.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be paid a dividend of $0.805 per share. The ex-dividend date is Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.83%. PepsiCo’s dividend payout ratio is currently 63.26%.
PepsiCo announced that its board has initiated a share repurchase plan on Tuesday, February 13th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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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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