Legal & General Group Plc trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 23.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,784,108 shares of the company's stock after selling 3,036,509 shares during the quarter. Legal & General Group Plc owned approximately 0.71% of PepsiCo worth $1,487,771,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Collier Financial acquired a new stake in PepsiCo during the 4th quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo during the fourth quarter valued at $28,000. Creative Capital Management Investments LLC purchased a new stake in PepsiCo in the 4th quarter worth about $30,000. Prudent Man Investment Management Inc. acquired a new stake in PepsiCo during the 4th quarter worth about $30,000. Finally, Legacy Investment Solutions LLC purchased a new position in PepsiCo during the 3rd quarter valued at about $31,000. 73.07% of the stock is owned by institutional investors and hedge funds.
PepsiCo Stock Performance
Shares of NASDAQ PEP traded up $0.26 during trading hours on Thursday, hitting $145.85. 4,760,886 shares of the company's stock were exchanged, compared to its average volume of 6,038,729. The stock has a market capitalization of $200.00 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 3.09 and a beta of 0.49. The company's 50-day moving average price is $148.47 and its 200-day moving average price is $156.13. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $138.33 and a 1-year high of $183.41.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.02. The company had revenue of $27.78 billion for the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business's revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 EPS. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.
PepsiCo Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, March 7th. PepsiCo's dividend payout ratio (DPR) is presently 77.99%.
Wall Street Analyst Weigh In
PEP has been the subject of several research reports. Royal Bank of Canada started coverage on shares of PepsiCo in a report on Tuesday, February 4th. They set a $172.00 price target for the company. Wells Fargo & Company lowered their price target on shares of PepsiCo from $155.00 to $150.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. TD Cowen cut their price objective on PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com downgraded PepsiCo from a "buy" rating to a "hold" rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $169.88.
Check Out Our Latest Analysis on PEP
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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