Murphy Pohlad Asset Management LLC boosted its stake in PepsiCo (NASDAQ:PEP) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,363 shares of the company’s stock after buying an additional 450 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in PepsiCo were worth $2,082,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Tompkins Financial Corp increased its holdings in shares of 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 during the period. Courier Capital LLC increased its holdings in shares of 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 during the period. Bremer Trust National Association increased its holdings in shares of 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 during the period. Perkins Coie Trust Co increased its holdings in shares of 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 during the period. Finally, Hendley & Co. Inc. increased its holdings in shares of PepsiCo by 2.0% during the fourth quarter. Hendley & Co. Inc. now owns 22,912 shares of the company’s stock valued at $2,748,000 after purchasing an additional 453 shares during the period. 70.95% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on PEP. TheStreet lowered PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. SunTrust Banks lowered their price target on PepsiCo from $125.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, February 14th. JPMorgan Chase lowered their price target on PepsiCo from $127.00 to $124.00 and set an “overweight” rating on the stock in a report on Wednesday, February 14th. Jefferies Group reissued a “hold” rating and set a $113.00 price target on shares of PepsiCo in a report on Tuesday, February 13th. Finally, Susquehanna Bancshares raised their price target on PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $123.04.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 13th. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. PepsiCo had a return on equity of 61.14% and a net margin of 7.65%. The business had revenue of $19.53 billion during the quarter, compared to analysts’ expectations of $19.40 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. sell-side analysts predict that PepsiCo will post 5.7 EPS for the current fiscal year.
PepsiCo declared that its Board of Directors has authorized a stock buyback plan on Tuesday, February 13th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were paid a dividend of $0.805 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $3.22 annualized dividend and a yield of 2.97%. PepsiCo’s dividend payout ratio is currently 61.57%.
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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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