Jacobi Capital Management LLC boosted its holdings in PepsiCo (NASDAQ:PEP) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,919 shares of the company’s stock after purchasing an additional 645 shares during the quarter. Jacobi Capital Management LLC’s holdings in PepsiCo were worth $344,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Tompkins Financial Corp boosted its holdings in shares of PepsiCo by 1.2% during the fourth quarter. Tompkins Financial Corp now owns 34,634 shares of the company’s stock valued at $4,153,000 after acquiring an additional 421 shares during the period. Courier Capital LLC boosted its holdings in shares of PepsiCo by 0.6% during the fourth quarter. Courier Capital LLC now owns 72,638 shares of the company’s stock valued at $8,711,000 after acquiring an additional 430 shares during the period. Bremer Trust National Association boosted its holdings in shares of PepsiCo by 6.9% during the fourth quarter. Bremer Trust National Association now owns 6,763 shares of the company’s stock valued at $811,000 after acquiring an additional 435 shares during the period. Perkins Coie Trust Co boosted its holdings in shares of PepsiCo by 1.5% during the fourth quarter. Perkins Coie Trust Co now owns 29,180 shares of the company’s stock valued at $3,499,000 after acquiring an additional 435 shares during the period. Finally, Murphy Pohlad Asset Management LLC boosted its holdings in shares of PepsiCo by 2.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 17,363 shares of the company’s stock valued at $2,082,000 after acquiring an additional 450 shares during the period. 70.95% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PEP opened at $109.26 on Monday. PepsiCo has a fifty-two week low of $105.94 and a fifty-two week high of $122.51. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 3.03. The stock has a market cap of $153,740.08, a P/E ratio of 20.89, a P/E/G ratio of 2.56 and a beta of 0.66.
PepsiCo announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were paid a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Thursday, March 1st. PepsiCo’s dividend payout ratio is currently 61.57%.
Several equities analysts have recently issued reports on PEP shares. JPMorgan Chase reduced their price target on shares of PepsiCo from $127.00 to $124.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Cowen reissued a “buy” rating and set a $133.00 price target on shares of PepsiCo in a report on Tuesday, January 9th. Wells Fargo boosted their price target on shares of PepsiCo from $110.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, January 4th. TheStreet downgraded shares of PepsiCo from a “b-” rating to a “c+” rating in a report on Thursday, March 1st. Finally, Jefferies Group reissued a “hold” rating and set a $113.00 price target on shares of PepsiCo in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. PepsiCo presently has a consensus rating of “Hold” and an average target price of $123.04.
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PepsiCo Company Profile
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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