First Manhattan Co. Has $18.52 Million Stake in PepsiCo (NASDAQ:PEP)

First Manhattan Co. increased its holdings in PepsiCo (NASDAQ:PEP) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,469 shares of the company’s stock after purchasing an additional 591 shares during the period. First Manhattan Co.’s holdings in PepsiCo were worth $18,524,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Round Table Services LLC purchased a new stake in PepsiCo in the fourth quarter worth about $201,000. V Wealth Management LLC lifted its stake in PepsiCo by 39.5% in the fourth quarter. V Wealth Management LLC now owns 6,848 shares of the company’s stock worth $808,000 after acquiring an additional 1,938 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in PepsiCo by 64.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,924 shares of the company’s stock worth $2,926,000 after acquiring an additional 9,796 shares during the period. TRUE Private Wealth Advisors lifted its stake in PepsiCo by 50.5% in the fourth quarter. TRUE Private Wealth Advisors now owns 8,018 shares of the company’s stock worth $966,000 after acquiring an additional 2,689 shares during the period. Finally, Personal Capital Advisors Corp lifted its stake in PepsiCo by 37.2% in the fourth quarter. Personal Capital Advisors Corp now owns 41,350 shares of the company’s stock worth $4,959,000 after acquiring an additional 11,211 shares during the period. Institutional investors and hedge funds own 70.84% of the company’s stock.

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Shares of NASDAQ:PEP traded down $1.27 during midday trading on Friday, reaching $109.30. 3,510,151 shares of the company’s stock traded hands, compared to its average volume of 4,273,410. PepsiCo has a 1 year low of $105.94 and a 1 year high of $122.51. The firm has a market capitalization of $156,948.03, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.62 and a beta of 0.66. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.51 and a quick ratio of 1.37.

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 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 analyst estimates of $19.40 billion. During the same quarter last year, the firm posted $1.20 EPS. The business’s revenue was up .1% on a year-over-year basis. sell-side analysts expect that PepsiCo will post 5.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were issued a $0.805 dividend. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a yield of 2.95%. PepsiCo’s payout ratio is currently 61.57%.

PepsiCo declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 13th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Several analysts have commented on the stock. BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $120.00 price objective on shares of PepsiCo in a research report on Friday, December 22nd. SunTrust Banks decreased their price objective on shares of PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, February 14th. Jefferies Group reaffirmed a “hold” rating and issued a $113.00 price objective on shares of PepsiCo in a research report on Tuesday, February 13th. Finally, JPMorgan Chase decreased their price objective on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a research report 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 stock. PepsiCo presently has a consensus rating of “Hold” and an average target price of $123.04.

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About PepsiCo

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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