Coastline Trust Co increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 23.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,686 shares of the company’s stock after buying an additional 8,275 shares during the quarter. PepsiCo accounts for approximately 0.8% of Coastline Trust Co’s holdings, making the stock its 29th biggest holding. Coastline Trust Co’s holdings in PepsiCo were worth $5,239,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. Prudential Financial Inc. increased its stake in shares of PepsiCo by 26.1% in the third quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock worth $485,168,000 after buying an additional 899,911 shares during the period. Gateway Investment Advisers LLC increased its position in PepsiCo by 9.1% during the 4th quarter. Gateway Investment Advisers LLC now owns 986,296 shares of the company’s stock valued at $118,277,000 after purchasing an additional 82,103 shares during the period. Vontobel Asset Management Inc. increased its position in PepsiCo by 13.8% during the 4th quarter. Vontobel Asset Management Inc. now owns 677,378 shares of the company’s stock valued at $81,230,000 after purchasing an additional 82,034 shares during the period. National Pension Service increased its position in PepsiCo by 4.0% during the 4th quarter. National Pension Service now owns 1,124,403 shares of the company’s stock valued at $134,838,000 after purchasing an additional 43,427 shares during the period. Finally, Confluence Investment Management LLC increased its position in PepsiCo by 2.0% during the 4th quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock valued at $138,418,000 after purchasing an additional 22,364 shares during the period. 69.98% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on PEP shares. Cowen reissued a “buy” rating and set a $133.00 price objective on shares of PepsiCo in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Monday, December 4th. Deutsche Bank started coverage on shares of PepsiCo in a research report on Wednesday, December 13th. They set a “buy” rating and a $132.00 price objective on the stock. TheStreet downgraded shares of PepsiCo from a “b-” rating to a “c+” rating in a research report on Thursday, March 1st. Finally, Royal Bank of Canada reissued a “hold” rating on shares of PepsiCo in a research report on Sunday, November 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $123.04.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, February 13th. The company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.01. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. The firm had revenue of $19.53 billion for the quarter, compared to analysts’ expectations of $19.40 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. sell-side analysts forecast that PepsiCo, Inc. will post 5.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Thursday, March 1st. PepsiCo’s dividend payout ratio (DPR) is presently 63.26%.
PepsiCo declared that its Board of Directors has initiated a share buyback program on Tuesday, February 13th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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