PepsiCo (PEP) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC boosted its position in shares of PepsiCo (NASDAQ:PEP) by 8.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,678,262 shares of the company’s stock after purchasing an additional 1,305,279 shares during the period. PepsiCo accounts for 0.7% of Geode Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Geode Capital Management LLC’s holdings in PepsiCo were worth $1,996,271,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Mackenzie Financial Corp grew its holdings in shares of PepsiCo by 120.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,779,601 shares of the company’s stock valued at $213,410,000 after acquiring an additional 972,517 shares in the last quarter. Prudential Financial Inc. grew its holdings 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 valued at $485,168,000 after acquiring an additional 899,911 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of PepsiCo by 3,234.3% during the 4th quarter. SG Americas Securities LLC now owns 471,207 shares of the company’s stock valued at $56,507,000 after acquiring an additional 457,075 shares in the last quarter. APG Asset Management N.V. grew its holdings in shares of PepsiCo by 6.6% during the 4th quarter. APG Asset Management N.V. now owns 6,708,832 shares of the company’s stock valued at $669,989,000 after acquiring an additional 413,900 shares in the last quarter. Finally, Eaton Vance Management grew its holdings in shares of PepsiCo by 12.4% during the 4th quarter. Eaton Vance Management now owns 2,878,250 shares of the company’s stock valued at $345,159,000 after acquiring an additional 316,810 shares in the last quarter. Hedge funds and other institutional investors own 71.05% of the company’s stock.
Several equities analysts have recently commented on PEP shares. Goldman Sachs restated a “sell” rating on shares of PepsiCo in a report on Tuesday, April 17th. Susquehanna Bancshares boosted their price target on shares of PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a report on Monday, February 12th. TheStreet cut shares of PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. Stifel Nicolaus lowered their price target on shares of PepsiCo from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Friday, April 27th. Finally, SunTrust Banks started coverage on shares of PepsiCo in a report on Monday, January 29th. They set a “hold” rating and a $125.00 price target on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $120.36.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.01. The firm had revenue of $19.53 billion during the quarter, compared to analysts’ expectations of $19.40 billion. PepsiCo had a net margin of 7.62% and a return on equity of 62.43%. PepsiCo’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. equities analysts anticipate that PepsiCo will post 5.7 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be issued a $0.9275 dividend. The ex-dividend date is Thursday, May 31st. This is a boost from PepsiCo’s previous quarterly dividend of $0.81. This represents a $3.71 dividend on an annualized basis and a yield of 3.79%. PepsiCo’s dividend payout ratio is currently 61.57%.
PepsiCo declared that its board has authorized a share buyback program on Tuesday, February 13th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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