Fred Alger Management LLC 出售了百事公司（纳斯达克股票代码：PEP）的股票
Fred Alger Management LLC significantly reduced its stake in PepsiCo, Inc. by 79.2% in Q4, now holding 10,512 shares after selling 39,919 shares. Other institutional investors also adjusted their positions, with Norges Bank acquiring a new stake valued at approximately $2.73 billion. Analysts have set new price targets for PepsiCo, with a consensus rating of "Hold" and a target price of $160.69. PepsiCo's stock opened at $130.44, with a recent quarterly EPS of $1.48, slightly missing estimates. The company announced a dividend increase to $1.4225, yielding 4.36%.
Fred Alger Management LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 79.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,512 shares of the company's stock after selling 39,919 shares during the quarter. Fred Alger Management LLC's holdings in PepsiCo were worth $1,613,000 at the end of the most recent reporting period.
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Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in PepsiCo in the 4th quarter valued at approximately $2,729,565,000. Raymond James Financial Inc. purchased a new position in PepsiCo in the fourth quarter valued at $589,307,000. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 18.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after purchasing an additional 3,856,193 shares in the last quarter. Vanguard Group Inc. raised its position in PepsiCo by 1.0% in the 4th 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 in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of PepsiCo by 360.0% in the 4th quarter. Van ECK Associates Corp now owns 1,697,742 shares of the company's stock valued at $258,158,000 after buying an additional 1,328,672 shares during the period. Institutional investors and hedge funds own 73.07% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PepsiCo from $184.00 to $178.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. HSBC lowered their target price on shares of PepsiCo from $186.00 to $170.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised their price target on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. Finally, Morgan Stanley lowered their price target on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of "Hold" and a consensus target price of $160.69.
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Read Our Latest Research Report on PepsiCo
PepsiCo Stock Down 0.8 %
PEP opened at $130.44 on Friday. PepsiCo, Inc. has a 12 month low of $130.16 and a 12 month high of $183.41. The business has a 50-day moving average of $143.73 and a two-hundred day moving average of $150.88. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a market capitalization of $178.84 billion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 3.09 and a beta of 0.47.
- Recession Prep: Consumer Staples are Back
PepsiCo (NASDAQ:PEP - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.36%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is presently 83.68%.
PepsiCo 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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