Clarkston Capital Partners LLC Raises Position in PepsiCo, Inc. (PEP)
Clarkston Capital Partners LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 312,974 shares of the company’s stock after acquiring an additional 2,740 shares during the period. Clarkston Capital Partners LLC’s holdings in PepsiCo were worth $34,577,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Advisors Capital Management LLC acquired a new position in PepsiCo during the fourth quarter worth $649,000. Nisa Investment Advisors LLC raised its holdings in PepsiCo by 0.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 535,408 shares of the company’s stock worth $59,152,000 after purchasing an additional 3,140 shares during the last quarter. Thomasville National Bank raised its holdings in shares of PepsiCo by 1.2% in the fourth quarter. Thomasville National Bank now owns 25,967 shares of the company’s stock worth $2,869,000 after acquiring an additional 297 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in shares of PepsiCo by 3.0% in the fourth quarter. Quadrant Capital Group LLC now owns 8,918 shares of the company’s stock worth $958,000 after acquiring an additional 259 shares during the last quarter. Finally, BTIM Corp. raised its holdings in shares of PepsiCo by 0.7% in the fourth quarter. BTIM Corp. now owns 573,881 shares of the company’s stock worth $63,402,000 after acquiring an additional 4,207 shares during the last quarter. 71.93% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Credit Suisse Group assumed coverage on PepsiCo in a report on Wednesday, March 6th. They issued an “underperform” rating and a $100.00 price target for the company. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. Gabelli reissued a “buy” rating on shares of PepsiCo in a report on Tuesday, February 19th. Morgan Stanley boosted their price target on PepsiCo from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, February 19th. Finally, Cowen boosted their price target on PepsiCo from $124.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, February 19th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. PepsiCo presently has an average rating of “Hold” and an average price target of $118.79.
PepsiCo stock opened at $115.50 on Friday. The firm has a market capitalization of $163.64 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.64. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.00. The company has a quick ratio of 0.85, a current ratio of 0.99 and a debt-to-equity ratio of 1.94.
PepsiCo (NASDAQ:PEP) last released its earnings results on Friday, February 15th. The company reported $1.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.49. The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $19.52 billion. PepsiCo had a return on equity of 69.83% and a net margin of 19.35%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.31 earnings per share. Research analysts predict that PepsiCo, Inc. will post 5.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be paid a $0.9275 dividend. The ex-dividend date is Thursday, February 28th. This represents a $3.71 annualized dividend and a yield of 3.21%. PepsiCo’s payout ratio is currently 65.55%.
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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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