Summit Securities Group LLC Grows Holdings in PepsiCo (PEP)

Summit Securities Group LLC boosted its position in shares of PepsiCo (NASDAQ:PEP) by 75.0% in the fourth quarter, HoldingsChannel reports. The firm owned 7,700 shares of the company’s stock after acquiring an additional 3,300 shares during the period. Summit Securities Group LLC’s holdings in PepsiCo were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tompkins Financial Corp increased its holdings in PepsiCo by 1.2% during the 4th quarter. Tompkins Financial Corp now owns 34,634 shares of the company’s stock worth $4,153,000 after purchasing an additional 421 shares in the last quarter. Courier Capital LLC increased its holdings in PepsiCo by 0.6% during the 4th quarter. Courier Capital LLC now owns 72,638 shares of the company’s stock worth $8,711,000 after purchasing an additional 430 shares in the last quarter. Bremer Trust National Association increased its holdings in PepsiCo by 6.9% during the 4th quarter. Bremer Trust National Association now owns 6,763 shares of the company’s stock worth $811,000 after purchasing an additional 435 shares in the last quarter. Perkins Coie Trust Co increased its holdings in PepsiCo by 1.5% during the 4th quarter. Perkins Coie Trust Co now owns 29,180 shares of the company’s stock worth $3,499,000 after purchasing an additional 435 shares in the last quarter. Finally, Hendley & Co. Inc. increased its holdings in PepsiCo by 2.0% during the 4th quarter. Hendley & Co. Inc. now owns 22,912 shares of the company’s stock worth $2,748,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 70.84% of the company’s stock.

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Shares of NASDAQ:PEP opened at $109.30 on Monday. PepsiCo has a 52-week low of $105.94 and a 52-week high of $122.51. The stock has a market capitalization of $155,145.34, a P/E ratio of 20.90, a PEG ratio of 2.59 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 issued its earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $19.53 billion during the quarter, compared to the consensus estimate of $19.40 billion. During the same period last year, the business posted $1.20 EPS. PepsiCo’s revenue was up .1% on a year-over-year basis. sell-side analysts expect that PepsiCo will post 5.7 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were paid 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 dividend payout ratio (DPR) is currently 61.57%.

PepsiCo announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 13th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded PepsiCo from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Deutsche Bank assumed coverage on PepsiCo in a report on Wednesday, December 13th. They issued a “buy” rating and a $132.00 price objective for the company. Stifel Nicolaus restated a “hold” rating and issued a $120.00 price objective on shares of PepsiCo in a report on Friday, December 22nd. Wells Fargo raised their price objective on PepsiCo from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 4th. Finally, Jefferies Group restated a “hold” rating and issued a $113.00 price objective on shares of PepsiCo in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. PepsiCo currently has an average 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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