Zions Bancorporation N.A. Acquires 17,888 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Zions Bancorporation N.A. lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 68.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 43,965 shares of the company's stock after buying an additional 17,888 shares during the quarter. Zions Bancorporation N.A.'s holdings in PepsiCo were worth $6,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Raymond James Financial Inc. acquired a new stake in PepsiCo in the fourth quarter worth $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 buying an additional 3,856,193 shares during the last quarter. State Street Corp raised its stake in PepsiCo by 5.1% during the 3rd quarter. State Street Corp now owns 57,268,030 shares of the company's stock valued at $9,738,429,000 after acquiring an additional 2,775,679 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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 period. Finally, Vanguard Group Inc. boosted its holdings in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after acquiring an additional 1,376,133 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

PEP has been the topic of several research analyst reports. CICC Research reiterated a "market perform" rating on shares of PepsiCo in a research report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a report on Friday, January 24th. Evercore ISI reduced their target price on shares of PepsiCo from $180.00 to $160.00 in a report on Tuesday, February 4th. BNP Paribas dropped their price target on PepsiCo from $162.00 to $160.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada assumed coverage on PepsiCo in a research note on Tuesday, February 4th. They set a $172.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $169.88.

PepsiCo Stock Down 0.3 %

Shares of PEP traded down $0.40 during trading hours on Friday, reaching $149.27. The company's stock had a trading volume of 8,549,260 shares, compared to its average volume of 5,875,691. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The firm has a market cap of $204.72 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 3.09 and a beta of 0.52. The company has a 50 day moving average of $149.25 and a two-hundred day moving average of $158.03. PepsiCo, Inc. has a 1-year low of $141.51 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.02. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The company's revenue was down .2% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, March 7th. PepsiCo's payout ratio is currently 77.99%.

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.