Montag & Caldwell LLC Cuts Stake in PepsiCo (PEP)

Montag & Caldwell LLC lessened its position in shares of PepsiCo (NASDAQ:PEP) by 9.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 803,401 shares of the company’s stock after selling 84,853 shares during the quarter. PepsiCo comprises about 3.0% of Montag & Caldwell LLC’s investment portfolio, making the stock its 20th largest position. Montag & Caldwell LLC’s holdings in PepsiCo were worth $96,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Prudential Financial Inc. increased its holdings in PepsiCo by 26.1% in the third quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock valued at $485,168,000 after purchasing an additional 899,911 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services bought a new stake in PepsiCo in the fourth quarter valued at about $201,000. Confluence Investment Management LLC increased its holdings in PepsiCo by 2.0% in the fourth quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock valued at $138,418,000 after purchasing an additional 22,364 shares during the last quarter. Gillespie Robinson & Grimm Inc. increased its holdings in PepsiCo by 2.8% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 209,803 shares of the company’s stock valued at $25,160,000 after purchasing an additional 5,738 shares during the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in PepsiCo by 0.3% in the fourth quarter. Chesley Taft & Associates LLC now owns 250,366 shares of the company’s stock valued at $30,024,000 after purchasing an additional 686 shares during the last quarter. 70.84% of the stock is currently owned by institutional investors and hedge funds.

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NASDAQ:PEP opened at $109.30 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 3.03. The stock has a market cap of $156,948.03, a P/E ratio of 20.90, a PEG ratio of 2.62 and a beta of 0.66. PepsiCo has a 52-week low of $105.94 and a 52-week high of $122.51.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. The business had revenue of $19.53 billion during 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%. PepsiCo’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $1.20 earnings per share. research analysts predict 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. Investors of record on Friday, March 2nd were issued a dividend of $0.805 per share. The ex-dividend date was Thursday, March 1st. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.95%. PepsiCo’s payout ratio is presently 61.57%.

PepsiCo declared that its board has initiated a share buyback program on Tuesday, February 13th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Several equities research analysts have issued reports on the company. TheStreet downgraded PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. SunTrust Banks lowered their price target on PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a report on Wednesday, February 14th. JPMorgan Chase lowered their price target on PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Jefferies Group restated a “hold” rating and issued a $113.00 price target on shares of PepsiCo in a report on Tuesday, February 13th. Finally, Susquehanna Bancshares increased their price target on PepsiCo from $137.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $123.04.

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PepsiCo Company Profile

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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