West Coast Financial LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,400 shares of the company’s stock after selling 2,473 shares during the quarter. PepsiCo makes up 1.9% of West Coast Financial LLC’s investment portfolio, making the stock its 15th largest holding. West Coast Financial LLC’s holdings in PepsiCo were worth $6,883,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Rockland Trust Co. grew its stake in PepsiCo by 2.7% during the 4th 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. LGT Capital Partners LTD. grew its stake in PepsiCo by 2.2% during the 4th 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. Prudential Financial Inc. grew its stake in PepsiCo by 26.1% during the 3rd 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. Broadleaf Partners LLC purchased a new position in PepsiCo during the 4th quarter valued at about $448,000. Finally, Indiana Trust & Investment Management CO grew its stake in PepsiCo by 11.8% during the 4th 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 currently owned by hedge funds and other institutional investors.
Shares of PepsiCo, Inc. (PEP) opened at $113.60 on Wednesday. The company has a market capitalization of $161,300.00, a P/E ratio of 22.32, a P/E/G ratio of 2.68 and a beta of 0.69. PepsiCo, Inc. has a 12 month low of $106.19 and a 12 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.
PepsiCo announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 13th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors 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 annualized dividend and a dividend yield of 2.83%. PepsiCo’s payout ratio is 63.26%.
Several equities analysts have weighed in on PEP shares. Cowen reaffirmed a “buy” rating and set a $133.00 target price on shares of PepsiCo in a research note on Tuesday, January 9th. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Monday, December 4th. Deutsche Bank started coverage on PepsiCo in a research note on Wednesday, December 13th. They set a “buy” rating and a $132.00 target price on the stock. TheStreet cut PepsiCo from a “b-” rating to a “c+” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks started coverage on PepsiCo in a research note on Monday, January 29th. They set a “hold” rating and a $125.00 target price on the stock. 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 assigned a strong buy rating to the stock. PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $123.04.
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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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