6,768 Shares in PepsiCo, Inc. (NASDAQ:PEP) Bought by Perennial Investment Advisors LLC
Perennial Investment Advisors LLC bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,768 shares of the company’s stock, valued at approximately $926,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PEP. Evolution Wealth Advisors LLC lifted its stake in shares of PepsiCo by 221.0% during the fourth quarter. Evolution Wealth Advisors LLC now owns 199 shares of the company’s stock valued at $27,000 after buying an additional 137 shares during the period. Exchange Traded Concepts LLC purchased a new stake in PepsiCo in the 4th quarter worth approximately $40,000. Cordasco Financial Network grew its stake in PepsiCo by 50.0% in the 3rd quarter. Cordasco Financial Network now owns 300 shares of the company’s stock worth $41,000 after acquiring an additional 100 shares during the period. 1 North Wealth Services LLC purchased a new stake in PepsiCo in the 3rd quarter worth approximately $44,000. Finally, Simon Quick Advisors LLC raised its holdings in PepsiCo by 53.9% in the 4th quarter. Simon Quick Advisors LLC now owns 337 shares of the company’s stock valued at $46,000 after acquiring an additional 118 shares during the last quarter. Institutional investors own 71.35% of the company’s stock.
A number of research analysts have weighed in on PEP shares. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. SunTrust Banks lifted their price objective on PepsiCo to and gave the company a “hold” rating in a research report on Friday. Evercore ISI reiterated a “hold” rating on shares of PepsiCo in a research note on Sunday. Cfra upped their target price on PepsiCo from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $137.95.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01. The firm had revenue of $20.64 billion for the quarter, compared to analyst estimates of $20.24 billion. The business’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 earnings per share. As a group, sell-side analysts predict that PepsiCo, Inc. will post 5.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th will be paid a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, March 5th. PepsiCo’s dividend payout ratio is currently 69.08%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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