TCTC Holdings LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,808 shares of the company's stock after acquiring an additional 9,996 shares during the quarter. PepsiCo accounts for about 1.1% of TCTC Holdings LLC's investment portfolio, making the stock its 23rd largest holding. TCTC Holdings LLC's holdings in PepsiCo were worth $30,409,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Elite Financial Inc. bought a new position in PepsiCo during the first quarter worth $28,000. Prudent Man Investment Management Inc. bought a new stake in PepsiCo in the fourth quarter valued at $30,000. Measured Risk Portfolios Inc. bought a new stake in shares of PepsiCo during the fourth quarter valued at about $31,000. Summit Securities Group LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at about $33,000. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of PepsiCo during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 73.07% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research note on Thursday, July 10th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. Barclays lifted their target price on PepsiCo from $132.00 to $144.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Finally, Morgan Stanley lifted their target price on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. 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 stock. Based on data from MarketBeat.com, PepsiCo currently has a consensus rating of "Hold" and an average price target of $158.73.
Read Our Latest Stock Analysis on PEP
PepsiCo Stock Performance
Shares of PEP traded up $1.57 during mid-day trading on Friday, reaching $139.49. The company's stock had a trading volume of 4,286,696 shares, compared to its average volume of 8,571,899. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91. The stock has a market cap of $190.98 billion, a P/E ratio of 25.41, a PEG ratio of 3.81 and a beta of 0.45. The business has a 50-day simple moving average of $134.43 and a two-hundred day simple moving average of $140.93. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion during the quarter, compared to analysts' expectations of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $2.28 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.
PepsiCo Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a yield of 4.1%. PepsiCo's payout ratio is currently 103.64%.
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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