Almanack Investment Partners LLC. lifted its position in PepsiCo (NASDAQ:PEP) by 48.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,452 shares of the company’s stock after acquiring an additional 474 shares during the period. Almanack Investment Partners LLC.’s holdings in PepsiCo were worth $175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Burney Co. lifted its position in PepsiCo by 13.4% during the fourth quarter. Burney Co. now owns 93,011 shares of the company’s stock worth $11,154,000 after buying an additional 10,988 shares in the last quarter. Icon Wealth Partners LLC purchased a new position in PepsiCo during the fourth quarter worth approximately $779,000. Lazard Asset Management LLC lifted its position in PepsiCo by 18.2% during the fourth quarter. Lazard Asset Management LLC now owns 1,234,948 shares of the company’s stock worth $148,093,000 after buying an additional 190,351 shares in the last quarter. Harwood Advisory Group LLC lifted its position in PepsiCo by 627.4% during the fourth quarter. Harwood Advisory Group LLC now owns 18,702 shares of the company’s stock worth $2,243,000 after buying an additional 16,131 shares in the last quarter. Finally, James Hambro & Partners purchased a new position in PepsiCo during the fourth quarter worth approximately $402,000. 71.05% of the stock is currently owned by hedge funds and other institutional investors.
PEP stock opened at $97.92 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.15 and a debt-to-equity ratio of 2.91. The firm has a market capitalization of $137.25 billion, a P/E ratio of 18.72, a PEG ratio of 2.23 and a beta of 0.67. PepsiCo has a 12-month low of $96.66 and a 12-month high of $97.55.
The company 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. This represents a $3.71 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Thursday, May 31st. This is an increase from PepsiCo’s previous quarterly dividend of $0.81. PepsiCo’s payout ratio is currently 61.57%.
PepsiCo announced that its board has initiated a stock buyback plan on Tuesday, February 13th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently commented on PEP shares. Goldman Sachs reiterated a “sell” rating on shares of PepsiCo in a research report on Tuesday, April 17th. Susquehanna Bancshares lifted their target price on PepsiCo from $137.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, February 12th. TheStreet downgraded PepsiCo from a “b-” rating to a “c+” rating in a research report on Thursday, March 1st. Stifel Nicolaus reduced their target price on PepsiCo from $120.00 to $110.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. Finally, SunTrust Banks initiated coverage on PepsiCo in a research report on Monday, January 29th. They issued a “hold” rating and a $125.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $120.36.
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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