Brandywine Global Investment Management LLC bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 291,341 shares of the company's stock, valued at approximately $44,301,000.
Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Norges Bank acquired a new position in shares of PepsiCo during the 4th quarter worth about $2,729,565,000. Raymond James Financial Inc. purchased a new stake in PepsiCo during the 4th quarter worth approximately $589,307,000. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 18.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after acquiring an additional 3,856,193 shares during the last quarter. State Street Corp boosted its stake in shares of PepsiCo by 5.1% in the third quarter. State Street Corp now owns 57,268,030 shares of the company's stock worth $9,738,429,000 after acquiring an additional 2,775,679 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of PepsiCo by 21.1% during the third quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company's stock worth $2,293,049,000 after purchasing an additional 2,264,445 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. BNP Paribas lowered their price target on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating for the company in a report on Friday, January 24th. Wells Fargo & Company decreased their target price on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Finally, Morgan Stanley dropped their price target on PepsiCo from $185.00 to $168.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PepsiCo currently has an average rating of "Hold" and a consensus price target of $169.88.
Read Our Latest Report on PepsiCo
PepsiCo Trading Down 0.7 %
NASDAQ PEP traded down $1.12 on Wednesday, reaching $148.55. The stock had a trading volume of 2,353,314 shares, compared to its average volume of 5,883,691. PepsiCo, Inc. has a 12-month low of $141.51 and a 12-month high of $183.41. The stock has a fifty day moving average price of $149.30 and a two-hundred day moving average price of $157.52. The firm has a market capitalization of $203.74 billion, a price-to-earnings ratio of 21.37, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.
PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. The company 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%. PepsiCo's revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the business posted $1.78 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.65%. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.
About PepsiCo
(
Free Report)
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.
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