Credit Agricole S A cut its holdings in PepsiCo (NASDAQ:PEP) by 99.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,448 shares of the company’s stock after selling 1,759,116 shares during the quarter. Credit Agricole S A’s holdings in PepsiCo were worth $414,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Tompkins Financial Corp boosted its stake in PepsiCo by 1.2% in the fourth quarter. Tompkins Financial Corp now owns 34,634 shares of the company’s stock valued at $4,153,000 after acquiring an additional 421 shares during the last quarter. Courier Capital LLC raised its holdings in PepsiCo by 0.6% in the fourth quarter. Courier Capital LLC now owns 72,638 shares of the company’s stock worth $8,711,000 after purchasing an additional 430 shares during the period. Bremer Trust National Association raised its holdings in PepsiCo by 6.9% in the fourth quarter. Bremer Trust National Association now owns 6,763 shares of the company’s stock worth $811,000 after purchasing an additional 435 shares during the period. Perkins Coie Trust Co raised its holdings in PepsiCo by 1.5% in the fourth quarter. Perkins Coie Trust Co now owns 29,180 shares of the company’s stock worth $3,499,000 after purchasing an additional 435 shares during the period. Finally, Murphy Pohlad Asset Management LLC raised its holdings in PepsiCo by 2.7% in the fourth quarter. Murphy Pohlad Asset Management LLC now owns 17,363 shares of the company’s stock worth $2,082,000 after purchasing an additional 450 shares during the period. 71.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PEP opened at $97.92 on Friday. PepsiCo has a 12 month low of $96.66 and a 12 month high of $97.55. The company has a current ratio of 1.28, a quick ratio of 1.15 and a debt-to-equity ratio of 2.91. The firm has a market cap of $137.25 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.23 and a beta of 0.67.
PepsiCo announced that its Board of Directors has approved a share repurchase program on Tuesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be issued a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.79%. This is a positive change from PepsiCo’s previous quarterly dividend of $0.81. The ex-dividend date is Thursday, May 31st. PepsiCo’s dividend payout ratio (DPR) is presently 61.57%.
PEP has been the topic of several analyst reports. Susquehanna Bancshares set a $130.00 target price on shares of PepsiCo and gave the stock a “buy” rating in a report on Friday, May 4th. TheStreet lowered shares of PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. Barclays reiterated a “hold” rating and issued a $108.00 target price on shares of PepsiCo in a report on Monday, April 30th. SunTrust Banks cut their target price on shares of PepsiCo to $105.00 and set a “hold” rating on the stock in a report on Friday, April 27th. Finally, Stifel Nicolaus cut their target price on shares of PepsiCo from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Friday, April 27th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $120.36.
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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