DF Dent & Co. Inc. Grows Holdings in PepsiCo, Inc. (PEP)
DF Dent & Co. Inc. grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 29.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,381 shares of the company’s stock after purchasing an additional 1,668 shares during the quarter. DF Dent & Co. Inc.’s holdings in PepsiCo were worth $885,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in shares of PepsiCo by 26.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock valued at $485,168,000 after buying an additional 899,911 shares during the period. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of PepsiCo during the 4th quarter valued at approximately $201,000. Confluence Investment Management LLC raised its position in shares of PepsiCo by 2.0% during the 4th quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock valued at $138,418,000 after buying an additional 22,364 shares during the period. Gillespie Robinson & Grimm Inc. raised its position in shares of PepsiCo by 2.8% during the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 209,803 shares of the company’s stock valued at $25,160,000 after buying an additional 5,738 shares during the period. Finally, Chesley Taft & Associates LLC raised its position in shares of PepsiCo by 0.3% during the 4th quarter. Chesley Taft & Associates LLC now owns 250,366 shares of the company’s stock valued at $30,024,000 after buying an additional 686 shares during the period. 69.85% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented 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 research report on Thursday, February 1st. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Jefferies Group reiterated a “hold” rating and issued a $113.00 target price on shares of PepsiCo in a report on Tuesday, February 13th. Susquehanna Bancshares lifted their target price on shares of PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a report on Monday, February 12th. Finally, Goldman Sachs Group reiterated a “sell” rating on shares of PepsiCo in a report on Tuesday, April 17th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $120.36.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, April 26th. The company reported $0.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.03. The business had revenue of $12.56 billion during the quarter, compared to the consensus estimate of $12.37 billion. PepsiCo had a net margin of 7.62% and a return on equity of 62.43%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. sell-side analysts expect that PepsiCo, Inc. will post 5.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 1st will be paid a $0.9275 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $3.71 annualized dividend and a dividend yield of 3.70%. PepsiCo’s payout ratio is 61.57%.
PepsiCo declared that its board has approved a stock buyback program on Tuesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
PepsiCo Company Profile
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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