Cornerstone Financial Partners LLC grew its holdings in PepsiCo (NASDAQ:PEP) by 64.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,792 shares of the company’s stock after buying an additional 1,874 shares during the period. Cornerstone Financial Partners LLC’s holdings in PepsiCo were worth $575,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Round Table Services LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $201,000. First National Bank of Mount Dora Trust Investment Services purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $201,000. Bouchey Financial Group Ltd purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $214,000. Oakmont Partners LLC purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $220,000. Finally, KCS Wealth Advisory purchased a new position in shares of PepsiCo during the fourth quarter valued at approximately $239,000. Institutional investors and hedge funds own 70.84% of the company’s stock.
A number of equities analysts have weighed in on PEP shares. SunTrust Banks assumed coverage on shares of PepsiCo in a research report on Monday, January 29th. They issued a “hold” rating and a $125.00 price objective for the company. Credit Suisse Group reaffirmed a “neutral” rating and set a $124.00 price target (up from $122.00) on shares of PepsiCo in a report on Thursday, February 1st. Wells Fargo raised their price target on shares of PepsiCo from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 4th. BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research lowered 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 given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $123.04.
Shares of PEP stock traded down $1.27 during midday trading on Friday, reaching $109.30. 3,579,131 shares of the company were exchanged, compared to its average volume of 4,273,410. PepsiCo has a 12 month low of $105.94 and a 12 month high of $122.51. The company has a market capitalization of $155,145.34, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.59 and a beta of 0.66. 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 announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The company had revenue of $19.53 billion for the quarter, compared to analysts’ expectations of $19.40 billion. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. equities research analysts predict that PepsiCo will post 5.7 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 2nd were paid a $0.805 dividend. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $3.22 annualized dividend and a dividend yield of 2.95%. PepsiCo’s dividend payout ratio is currently 61.57%.
PepsiCo declared that its board has authorized a stock repurchase program on Tuesday, February 13th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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