Douglas Lane & Associates LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 160,672 shares of the company’s stock after selling 8,094 shares during the period. Douglas Lane & Associates LLC’s holdings in PepsiCo were worth $19,268,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Round Table Services LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $201,000. First National Bank of Mount Dora Trust Investment Services purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $201,000. Cortland Associates Inc. MO purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $206,000. Bouchey Financial Group Ltd purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $214,000. Finally, Oakmont Partners LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $220,000. Institutional investors and hedge funds own 70.79% of the company’s stock.
PepsiCo, Inc. (PEP) opened at $107.94 on Friday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 1.37 and a current ratio of 1.51. The firm has a market cap of $155,997.00, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.60 and a beta of 0.69. PepsiCo, Inc. has a 12 month low of $106.19 and a 12 month high of $122.51.
PepsiCo declared that its board has approved a stock buyback plan on Tuesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be paid 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 95.55%.
PEP has been the subject of a number of analyst reports. Cowen reissued a “buy” rating and issued a $133.00 price objective on shares of PepsiCo in a 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 objective for the company in a report on Monday, December 4th. Deutsche Bank started coverage on shares of PepsiCo in a research note on Wednesday, December 13th. They set a “buy” rating and a $132.00 target price for the company. TheStreet lowered shares of PepsiCo from a “b-” rating to a “c+” rating in a research note on Thursday, March 1st. Finally, SunTrust Banks started coverage on shares of PepsiCo in a research note on Monday, January 29th. They set a “hold” rating and a $125.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. PepsiCo currently has a consensus rating of “Hold” and an average target price of $123.04.
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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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