Ycg LLC Reduces Holdings in PepsiCo, Inc. (PEP)
Ycg LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,552 shares of the company’s stock after selling 1,940 shares during the period. PepsiCo comprises about 7.9% of Ycg LLC’s portfolio, making the stock its 2nd largest position. Ycg LLC’s holdings in PepsiCo were worth $32,304,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Trust Department MB Financial Bank N A grew its holdings in PepsiCo by 17.4% during the 4th quarter. Trust Department MB Financial Bank N A now owns 94,650 shares of the company’s stock worth $11,350,000 after acquiring an additional 14,056 shares in the last quarter. Rockland Trust Co. grew its holdings in PepsiCo by 2.7% during the 4th quarter. Rockland Trust Co. now owns 145,893 shares of the company’s stock worth $17,495,000 after acquiring an additional 3,876 shares in the last quarter. Prudential Financial Inc. grew its holdings in 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 acquiring an additional 899,911 shares in the last quarter. First American Bank grew its holdings in PepsiCo by 0.8% during the 4th quarter. First American Bank now owns 325,831 shares of the company’s stock worth $39,073,000 after acquiring an additional 2,567 shares in the last quarter. Finally, LGT Capital Partners LTD. grew its holdings in PepsiCo by 2.2% during the 4th quarter. LGT Capital Partners LTD. now owns 177,753 shares of the company’s stock worth $21,316,000 after acquiring an additional 3,780 shares in the last quarter. Institutional investors own 70.79% of the company’s stock.
Several analysts have commented on the stock. Cowen reissued a “buy” rating and set a $133.00 price target 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 target for the company in a research report on Monday, December 4th. Deutsche Bank assumed coverage on shares of PepsiCo in a research report on Wednesday, December 13th. They set a “buy” rating and a $132.00 price target for the company. TheStreet lowered shares of PepsiCo from a “b-” rating to a “c+” rating in a research report on Thursday, March 1st. Finally, SunTrust Banks assumed coverage on shares of PepsiCo in a research report on Monday, January 29th. They set a “hold” rating and a $125.00 price target for the company. One research 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 presently has a consensus rating of “Hold” and a consensus target price of $123.04.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.01. The firm had revenue of $19.53 billion during the quarter, compared to analyst estimates of $19.40 billion. PepsiCo had a net margin of 7.65% and a return on equity of 61.14%. PepsiCo’s revenue was up .1% on a year-over-year basis. During the same period last year, the firm posted $1.20 EPS. research analysts anticipate that PepsiCo, Inc. will post 5.7 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 2nd will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Thursday, March 1st. PepsiCo’s payout ratio is currently 95.55%.
PepsiCo declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 13th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
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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