OLD Republic International Corp lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,800 shares of the company's stock after acquiring an additional 3,000 shares during the quarter. PepsiCo comprises about 2.3% of OLD Republic International Corp's investment portfolio, making the stock its 16th biggest holding. OLD Republic International Corp's holdings in PepsiCo were worth $58,447,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of PEP. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $28,000. Elite Financial Inc. purchased a new position in PepsiCo during the first quarter valued at approximately $28,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo during the fourth quarter valued at approximately $30,000. Measured Risk Portfolios Inc. purchased a new stake in PepsiCo in the 4th quarter worth approximately $31,000. Finally, Summit Securities Group LLC purchased a new position in shares of PepsiCo during the 4th quarter valued at $33,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently commented on PEP. Barclays dropped their price target on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Monday, April 28th. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Jefferies Financial Group lowered PepsiCo from a "buy" rating to a "hold" rating and lowered their price objective for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Citigroup reduced their target price on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price target on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $158.50.
Read Our Latest Stock Analysis on PEP
PepsiCo Stock Performance
Shares of PEP stock traded up $1.60 during mid-day trading on Thursday, reaching $136.08. The stock had a trading volume of 8,863,116 shares, compared to its average volume of 7,087,537. The firm has a market cap of $186.58 billion, a PE ratio of 20.01, a P/E/G ratio of 4.22 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $180.91. The firm's 50 day simple moving average is $131.41 and its 200 day simple moving average is $141.88.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The company's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is 83.68%.
About PepsiCo
(
Free Report)
PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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