PepsiCo, Inc. (PEP) Shares Sold by Home Federal Bank of Tennessee
Home Federal Bank of Tennessee reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.4% during the 4th quarter, HoldingsChannel reports. The firm owned 19,807 shares of the company’s stock after selling 908 shares during the period. PepsiCo makes up approximately 1.2% of Home Federal Bank of Tennessee’s portfolio, making the stock its 17th largest position. Home Federal Bank of Tennessee’s holdings in PepsiCo were worth $2,376,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of PEP. Prudential Financial Inc. boosted its position in shares of PepsiCo by 26.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,354,014 shares of the company’s stock worth $485,168,000 after purchasing an additional 899,911 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of PepsiCo during the 4th quarter worth $201,000. Confluence Investment Management LLC boosted its position in shares of PepsiCo by 2.0% during the 4th quarter. Confluence Investment Management LLC now owns 1,154,250 shares of the company’s stock worth $138,418,000 after purchasing an additional 22,364 shares in the last quarter. Gillespie Robinson & Grimm Inc. boosted its position in shares of PepsiCo by 2.8% during the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 209,803 shares of the company’s stock worth $25,160,000 after purchasing an additional 5,738 shares in the last quarter. Finally, Chesley Taft & Associates LLC boosted its position in shares of PepsiCo by 0.3% during the 4th quarter. Chesley Taft & Associates LLC now owns 250,366 shares of the company’s stock worth $30,024,000 after purchasing an additional 686 shares in the last quarter. Institutional investors own 70.62% of the company’s stock.
Several research firms have recently issued reports on PEP. Stifel Nicolaus reaffirmed a “hold” rating and set a $120.00 price target on shares of PepsiCo in a research note on Friday, December 22nd. TheStreet downgraded PepsiCo from a “b-” rating to a “c+” rating in a research note on Thursday. BidaskClub downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. SunTrust Banks cut their price target on PepsiCo from $125.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, February 14th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $113.00 price target on shares of PepsiCo in a research note on Tuesday, February 13th. 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 assigned a strong buy rating to the company. The company has an average 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 earnings per share for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $19.40 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. equities analysts expect that PepsiCo, Inc. will post 5.69 earnings per share for the current fiscal year.
PepsiCo declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 13th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 2nd will be paid a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, March 1st. PepsiCo’s payout ratio is 63.26%.
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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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