Rational Advisors LLC Acquires Shares of 1,400 PepsiCo (PEP)
Rational Advisors LLC acquired a new position in PepsiCo (NASDAQ:PEP) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,400 shares of the company’s stock, valued at approximately $168,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Tompkins Financial Corp lifted its holdings in PepsiCo by 1.2% during the fourth quarter. Tompkins Financial Corp now owns 34,634 shares of the company’s stock valued at $4,153,000 after purchasing an additional 421 shares in the last quarter. Courier Capital LLC lifted its holdings in PepsiCo by 0.6% during the fourth quarter. Courier Capital LLC now owns 72,638 shares of the company’s stock valued at $8,711,000 after purchasing an additional 430 shares in the last quarter. Bremer Trust National Association lifted its holdings in PepsiCo by 6.9% during the fourth quarter. Bremer Trust National Association now owns 6,763 shares of the company’s stock valued at $811,000 after purchasing an additional 435 shares in the last quarter. Perkins Coie Trust Co lifted its holdings in PepsiCo by 1.5% during the fourth quarter. Perkins Coie Trust Co now owns 29,180 shares of the company’s stock valued at $3,499,000 after purchasing an additional 435 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its holdings in PepsiCo by 2.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 17,363 shares of the company’s stock valued at $2,082,000 after purchasing an additional 450 shares in the last quarter. 70.82% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on PEP. SunTrust Banks began coverage on shares of PepsiCo in a report on Monday, January 29th. They set a “hold” rating and a $125.00 price target on the stock. Credit Suisse Group reaffirmed a “neutral” rating and set a $124.00 price target (up previously from $122.00) on shares of PepsiCo in a report on Thursday, February 1st. Cowen reaffirmed a “buy” rating and set a $133.00 price target on shares of PepsiCo in a report on Tuesday, January 9th. Zacks Investment Research downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Wells Fargo lifted their price target on shares of PepsiCo from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $121.70.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, February 13th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.30 by $0.01. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The firm had revenue of $19.53 billion for the quarter, compared to the consensus estimate of $19.40 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. equities research analysts predict that PepsiCo will post 5.7 EPS for the current year.
PepsiCo announced that its Board of Directors has authorized a stock repurchase program on Tuesday, February 13th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were given a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, March 1st. PepsiCo’s dividend payout ratio is presently 61.57%.
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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