Rafferty Asset Management LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 16.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 203,195 shares of the company's stock after purchasing an additional 28,610 shares during the quarter. Rafferty Asset Management LLC's holdings in PepsiCo were worth $30,898,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Ossiam grew its stake in PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after buying an additional 42,793 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in shares of PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after acquiring an additional 13,461 shares during the last quarter. Hutner Capital Management Inc. raised its position in PepsiCo by 14.6% in the 4th quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock valued at $8,178,000 after purchasing an additional 6,865 shares during the last quarter. Guinness Asset Management LTD boosted its stake in PepsiCo by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,236,788 shares of the company's stock worth $188,031,000 after purchasing an additional 61,541 shares during the period. Finally, WCM Investment Management LLC grew its position in PepsiCo by 147.6% during the 4th quarter. WCM Investment Management LLC now owns 14,692 shares of the company's stock worth $2,229,000 after purchasing an additional 8,759 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PEP has been the subject of several recent research reports. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their target price for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lifted their target price on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Dbs Bank downgraded PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Wells Fargo & Company dropped their price objective on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Finally, HSBC dropped their price objective on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $160.69.
Check Out Our Latest Stock Analysis on PepsiCo
PepsiCo Price Performance
NASDAQ:PEP traded up $0.48 during mid-day trading on Friday, hitting $131.98. 8,714,233 shares of the company's stock traded hands, compared to its average volume of 6,379,179. 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 firm's 50 day simple moving average is $141.38 and its 200 day simple moving average is $149.54. PepsiCo, Inc. has a 1 year low of $127.87 and a 1 year high of $182.13. The company has a market cap of $180.96 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its 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). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter last year, the business posted $1.61 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.31%. The ex-dividend date is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is 83.68%.
PepsiCo Profile
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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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