Allstate Corp Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Allstate Corp raised its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 3,086.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,982 shares of the company's stock after purchasing an additional 39,696 shares during the period. Allstate Corp's holdings in PepsiCo were worth $6,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Collier Financial acquired a new stake in shares of PepsiCo in the 4th quarter valued at about $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the fourth quarter valued at approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of PepsiCo in the third quarter valued at approximately $31,000. Bay Harbor Wealth Management LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $34,000. Finally, Human Investing LLC purchased a new stake in PepsiCo in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Price Performance

Shares of PEP traded down $0.29 on Tuesday, reaching $149.65. The stock had a trading volume of 1,898,848 shares, compared to its average volume of 5,876,641. The firm has a 50-day moving average of $149.28 and a 200 day moving average of $157.72. The firm has a market capitalization of $205.24 billion, a PE ratio of 21.54, a PEG ratio of 3.09 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $141.51 and a twelve month high of $183.41. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

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PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. The business had revenue of $27.78 billion during the quarter, compared to analysts' expectations of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business's revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business posted $1.78 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were given a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.62%. PepsiCo's dividend payout ratio is presently 77.99%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEP. Citigroup dropped their price objective on shares of PepsiCo from $195.00 to $170.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Evercore ISI dropped their price target on PepsiCo from $180.00 to $160.00 in a research report on Tuesday, February 4th. TD Cowen decreased their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada assumed coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They issued a $172.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo has an average rating of "Hold" and an average target price of $169.88.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.