Macnealy Hoover Investment Management Inc. decreased its position in PepsiCo (NASDAQ:PEP) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,860 shares of the company’s stock after selling 950 shares during the quarter. PepsiCo makes up 1.5% of Macnealy Hoover Investment Management Inc.’s investment portfolio, making the stock its 20th largest position. Macnealy Hoover Investment Management Inc.’s holdings in PepsiCo were worth $2,142,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in shares of PepsiCo by 3.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 8,126,159 shares of the company’s stock valued at $974,344,000 after buying an additional 252,631 shares during the period. Prudential Financial Inc. increased its position in shares of PepsiCo by 26.1% during the third quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock valued at $485,168,000 after buying an additional 899,911 shares during the period. Acadian Asset Management LLC increased its position in shares of PepsiCo by 2.7% during the fourth quarter. Acadian Asset Management LLC now owns 3,455,423 shares of the company’s stock valued at $414,373,000 after buying an additional 91,586 shares during the period. Confluence Investment Management LLC increased its position in shares of PepsiCo by 2.0% during the fourth quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock valued at $138,418,000 after buying an additional 22,364 shares during the period. Finally, National Pension Service increased its position in shares of PepsiCo by 4.0% during the fourth quarter. National Pension Service now owns 1,124,403 shares of the company’s stock valued at $134,838,000 after buying an additional 43,427 shares during the period. Hedge funds and other institutional investors own 70.84% of the company’s stock.
Shares of PepsiCo stock opened at $109.30 on Friday. The company has a market cap of $156,394.44, a P/E ratio of 20.90, a P/E/G ratio of 2.61 and a beta of 0.66. PepsiCo has a twelve month low of $105.94 and a twelve month high of $122.51. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.37 and a current ratio of 1.51.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $19.53 billion for the quarter, compared to the consensus estimate of $19.40 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. research analysts anticipate that PepsiCo will post 5.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were given a $0.805 dividend. The ex-dividend date was Thursday, March 1st. This represents a $3.22 annualized dividend and a yield of 2.95%. PepsiCo’s payout ratio is presently 61.57%.
PepsiCo declared that its board has authorized a stock 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 purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
PEP has been the topic of several research analyst reports. SunTrust Banks initiated coverage on shares of PepsiCo in a research report on Monday, January 29th. They set a “hold” rating and a $125.00 price target on the stock. Credit Suisse Group restated a “neutral” rating and issued a $124.00 price objective (up previously from $122.00) on shares of PepsiCo in a report on Thursday, February 1st. Wells Fargo upped their price objective on shares of PepsiCo from $110.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, January 4th. BidaskClub cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $123.04.
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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.
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