Northern Trust Corp Buys 1,306,818 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Northern Trust Corp lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,403,395 shares of the company's stock after acquiring an additional 1,306,818 shares during the period. Northern Trust Corp owned 1.20% of PepsiCo worth $2,494,300,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PEP. Norges Bank bought a new stake in PepsiCo in the fourth quarter worth about $2,729,565,000. Raymond James Financial Inc. bought a new stake in PepsiCo in the fourth quarter worth about $589,307,000. Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Franklin Resources Inc. lifted its stake in PepsiCo by 21.1% in 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 during the last quarter. Finally, Vanguard Group Inc. lifted its stake in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Institutional investors own 73.07% of the company's stock.

PepsiCo Trading Down 1.4 %

Shares of NASDAQ:PEP opened at $133.38 on Monday. The business's 50-day moving average is $147.70 and its 200 day moving average is $153.66. PepsiCo, Inc. has a 1 year low of $131.80 and a 1 year high of $183.41. The firm has a market capitalization of $182.91 billion, a P/E ratio of 19.19, a P/E/G ratio of 3.09 and a beta of 0.49. 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 (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.04). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. On average, research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 4.06%. The ex-dividend date was Friday, March 7th. PepsiCo's dividend payout ratio is currently 77.99%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Barclays lowered shares of PepsiCo from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $168.00 to $156.00 in a research report on Tuesday, March 18th. UBS Group reduced their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday. Morgan Stanley reduced their target price on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, StockNews.com lowered shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $162.00.

PepsiCo 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.