Jefferies Financial Group Inc. Raises Stake in PepsiCo, Inc. (NASDAQ:PEP)
Jefferies Financial Group Inc. increased its stake in PepsiCo, Inc. by 13.1% in Q4, owning 60,710 shares valued at $9.23 million. Other institutional investors also adjusted their holdings, with Norges Bank investing approximately $2.73 billion. PepsiCo's stock is currently trading at $129.34, down 0.6%. The company reported Q1 earnings of $1.48 EPS, missing estimates, and announced a dividend increase to $1.4225 per share. Analysts have mixed ratings on the stock, with an average target price of $160.69.
Jefferies Financial Group Inc. lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,710 shares of the company's stock after buying an additional 7,017 shares during the quarter. Jefferies Financial Group Inc.'s holdings in PepsiCo were worth $9,232,000 at the end of the most recent quarter.
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A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Norges Bank purchased a new stake in PepsiCo in the fourth quarter valued at approximately $2,729,565,000. Raymond James Financial Inc. purchased a new stake in PepsiCo in the fourth quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. grew its holdings in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the period. Vanguard Group Inc. grew its holdings in PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. Finally, Van ECK Associates Corp grew its holdings in PepsiCo by 360.0% in the fourth quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company's stock valued at $258,158,000 after purchasing an additional 1,328,672 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo Trading Down 0.6%
NASDAQ PEP opened at $129.34 on Monday. The company's fifty day simple moving average is $139.53 and its 200-day simple moving average is $148.20. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The stock has a market cap of $177.34 billion, a P/E ratio of 18.61, a PEG ratio of 3.09 and a beta of 0.47.
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PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the firm posted $1.61 earnings per share. The company's revenue for the quarter was down 1.8% on a year-over-year basis. Equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's payout ratio is presently 83.68%.
Wall Street Analyst Weigh In
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A number of equities research analysts recently issued reports on PEP shares. Barclays lowered their target price on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Citigroup decreased their price objective on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $160.69.
Get Our Latest Stock Report on PEP
PepsiCo Company Profile
(Free Report)PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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