Godsey & Gibb Associates cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 130,450 shares of the company’s stock after selling 2,627 shares during the period. PepsiCo comprises about 2.6% of Godsey & Gibb Associates’ holdings, making the stock its 10th biggest position. Godsey & Gibb Associates’ holdings in PepsiCo were worth $15,644,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in PEP. First National Bank of Mount Dora Trust Investment Services purchased a new position in PepsiCo in the fourth quarter valued at approximately $201,000. Round Table Services LLC purchased a new position in PepsiCo in the fourth quarter valued at approximately $201,000. Bouchey Financial Group Ltd purchased a new position in PepsiCo in the fourth quarter valued at approximately $214,000. Oakmont Partners LLC purchased a new position in PepsiCo in the fourth quarter valued at approximately $220,000. Finally, KCS Wealth Advisory purchased a new position in PepsiCo in the fourth quarter valued at approximately $239,000. 70.93% of the stock is owned by institutional investors.
Shares of PepsiCo, Inc. (NASDAQ PEP) opened at $111.64 on Friday. The stock has a market capitalization of $159,015.48, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 2.65 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 current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 3.03.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.01. The firm had revenue of $19.53 billion for the quarter, compared to the consensus estimate of $19.40 billion. PepsiCo had a return on equity of 61.14% and a net margin of 7.65%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. sell-side analysts forecast that PepsiCo, Inc. will post 5.7 EPS for the current year.
PepsiCo announced that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors 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 dividend on an annualized basis and a dividend yield of 2.88%. PepsiCo’s dividend payout ratio (DPR) is presently 95.55%.
Several research firms recently commented on PEP. Stifel Nicolaus reiterated a “hold” rating and issued a $120.00 price objective on shares of PepsiCo in a research note on Friday, December 22nd. BidaskClub downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. TheStreet downgraded PepsiCo from a “b-” rating to a “c+” rating in a research note on Thursday, March 1st. Jefferies Group reiterated a “hold” rating and issued a $113.00 price objective on shares of PepsiCo in a research note on Tuesday, February 13th. Finally, SunTrust Banks dropped their price objective on PepsiCo from $125.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. PepsiCo has an average rating of “Hold” and an average target price 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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