Grimes & Company Inc. boosted its stake in PepsiCo (NASDAQ:PEP) by 61.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,124 shares of the company’s stock after buying an additional 7,638 shares during the quarter. Grimes & Company Inc.’s holdings in PepsiCo were worth $2,413,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in PEP. Harel Insurance Investments & Financial Services Ltd. lifted its position in PepsiCo by 233.3% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,500 shares of the company’s stock worth $180,000 after buying an additional 1,050 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in PepsiCo in the 4th quarter worth approximately $197,000. First National Bank of Mount Dora Trust Investment Services purchased a new stake in PepsiCo in the 4th quarter worth approximately $201,000. Round Table Services LLC purchased a new stake in PepsiCo in the 4th quarter worth approximately $201,000. Finally, Cortland Associates Inc. MO purchased a new stake in PepsiCo in the 4th quarter worth approximately $206,000. Institutional investors own 70.91% of the company’s stock.
Shares of PEP opened at $109.92 on Tuesday. PepsiCo has a 12 month low of $105.94 and a 12 month high of $122.51. The firm has a market cap of $155,088.56, a PE ratio of 21.02, 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 posted 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 net margin of 7.65% and a return on equity of 61.14%. The business had revenue of $19.53 billion for the quarter, compared to analyst estimates of $19.40 billion. During the same period last year, the business posted $1.20 EPS. PepsiCo’s revenue was up .1% compared to the same quarter last year. equities research analysts forecast that PepsiCo will post 5.7 earnings per share for the current fiscal year.
PepsiCo declared that its board has initiated 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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 dividend on an annualized basis and a yield of 2.93%. PepsiCo’s payout ratio is presently 61.57%.
A number of equities research analysts have issued reports on PEP shares. Stifel Nicolaus reiterated a “hold” rating and issued a $120.00 target price on shares of PepsiCo in a research report on Friday, December 22nd. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Wells Fargo increased their price target on shares of PepsiCo from $110.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, January 4th. Jefferies Group restated a “hold” rating and set a $113.00 price target on shares of PepsiCo in a research note on Thursday, January 4th. Finally, Cowen restated a “buy” rating and set a $133.00 price target on shares of PepsiCo in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock 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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