World Asset Management Inc lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,215 shares of the company’s stock after selling 10,982 shares during the period. PepsiCo makes up 0.5% of World Asset Management Inc’s holdings, making the stock its 28th biggest position. World Asset Management Inc’s holdings in PepsiCo were worth $15,855,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services purchased a new position in shares of PepsiCo during the fourth quarter worth $201,000. Bouchey Financial Group Ltd purchased a new position in shares of PepsiCo during the fourth quarter worth $214,000. Oakmont Partners LLC purchased a new position in shares of PepsiCo during the fourth quarter worth $220,000. KCS Wealth Advisory purchased a new position in shares of PepsiCo during the fourth quarter worth $239,000. Finally, White Lighthouse Investment Management Inc. purchased a new position in shares of PepsiCo during the fourth quarter worth $240,000. 70.93% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the stock. SunTrust Banks assumed 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 reissued 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. Stifel Nicolaus restated a “hold” rating and set a $120.00 price target on shares of PepsiCo in a research report on Friday, December 22nd. Cowen restated a “buy” rating and set a $133.00 price target on shares of PepsiCo in a research report on Tuesday, January 9th. Finally, Deutsche Bank assumed coverage on shares of PepsiCo in a research report on Wednesday, December 13th. They set a “buy” rating and a $132.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $123.04.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The business had revenue of $19.53 billion for the quarter, compared to analyst estimates of $19.40 billion. During the same quarter last year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. equities analysts expect that PepsiCo, Inc. will post 5.7 EPS for the current year.
PepsiCo announced that its Board of Directors has initiated 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are 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 given 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 dividend payout ratio (DPR) is 63.26%.
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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