Oak Grove Capital LLC acquired a new stake in shares of PepsiCo (NASDAQ:PEP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,880 shares of the company’s stock, valued at approximately $225,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. RiverPoint Capital Management LLC boosted its position in PepsiCo by 5.5% during the fourth quarter. RiverPoint Capital Management LLC now owns 91,364 shares of the company’s stock valued at $10,956,000 after purchasing an additional 4,731 shares during the last quarter. Monroe Bank & Trust MI boosted its position in PepsiCo by 3.0% during the fourth quarter. Monroe Bank & Trust MI now owns 17,665 shares of the company’s stock valued at $1,848,000 after purchasing an additional 522 shares during the last quarter. LVW Advisors LLC boosted its position in PepsiCo by 4.6% during the fourth quarter. LVW Advisors LLC now owns 24,985 shares of the company’s stock valued at $2,996,000 after purchasing an additional 1,089 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in PepsiCo during the fourth quarter valued at $16,497,000. Finally, YorkBridge Wealth Partners LLC boosted its position in PepsiCo by 8.9% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 13,463 shares of the company’s stock valued at $1,541,000 after purchasing an additional 1,096 shares during the last quarter. 70.94% of the stock is owned by hedge funds and other institutional investors.
NASDAQ PEP opened at $97.43 on Friday. PepsiCo has a twelve month low of $95.94 and a twelve month high of $122.51. The company has a quick ratio of 1.15, a current ratio of 1.28 and a debt-to-equity ratio of 2.91. The stock has a market cap of $136.34 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.22 and a beta of 0.67.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.01. PepsiCo had a return on equity of 62.43% and a net margin of 7.62%. The business had revenue of $19.53 billion during the quarter, compared to analysts’ expectations of $19.40 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The firm’s revenue was up .1% compared to the same quarter last year. analysts expect that PepsiCo will post 5.7 EPS for the current year.
PepsiCo declared that its board has authorized a stock repurchase program on Tuesday, February 13th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be given a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Thursday, May 31st. This is a boost from PepsiCo’s previous quarterly dividend of $0.81. PepsiCo’s payout ratio is currently 61.57%.
A number of analysts have weighed in on the company. SunTrust Banks assumed coverage on PepsiCo in a research report on Monday, January 29th. They issued a “hold” rating and a $125.00 price target for the company. Credit Suisse Group reaffirmed a “neutral” rating and issued a $124.00 price target (up previously from $122.00) on shares of PepsiCo in a research report on Thursday, February 1st. JPMorgan Chase reduced their price target on PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. Jefferies Group reaffirmed a “hold” rating and issued a $113.00 price target on shares of PepsiCo in a research report on Tuesday, February 13th. Finally, Susquehanna Bancshares boosted their price target on PepsiCo from $137.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. PepsiCo has an average rating of “Hold” and a consensus target price of $120.36.
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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