Nuveen Asset Management LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,998,264 shares of the company's stock after purchasing an additional 72,791 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.58% of PepsiCo worth $1,216,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of PEP. Collier Financial purchased a new stake in PepsiCo during the fourth quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new position in PepsiCo in the 4th quarter worth about $30,000. Prudent Man Investment Management Inc. purchased a new position in PepsiCo in the 4th quarter worth about $30,000. Finally, Measured Risk Portfolios Inc. purchased a new position in PepsiCo in the 4th quarter worth about $31,000. 73.07% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PEP has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Bank of America reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Morgan Stanley cut their target price on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. Finally, Citigroup cut their target price on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $160.69.
Get Our Latest Report on PEP
PepsiCo Trading Up 0.4%
Shares of PEP stock traded up $0.48 on Friday, hitting $131.98. 8,714,233 shares of the stock traded hands, compared to its average volume of 6,371,459. The firm's 50-day moving average price is $141.78 and its two-hundred day moving average price is $149.90. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. The stock has a market capitalization of $180.96 billion, a PE ratio of 18.99, a PEG ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a twelve month low of $127.87 and a twelve month high of $182.96.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.31%. PepsiCo's payout ratio is presently 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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