PepsiCo, Inc. Declares Quarterly Dividend of $0.93 (PEP)

PepsiCo, Inc. (NASDAQ:PEP) announced a quarterly dividend on Wednesday, February 13th, RTT News reports. Investors of record on Friday, March 1st will be paid a dividend of 0.9275 per share on Friday, March 29th. This represents a $3.71 dividend on an annualized basis and a yield of 3.25%.

PepsiCo has raised its dividend by an average of 8.5% per year over the last three years and has raised its dividend every year for the last 46 years. PepsiCo has a payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Analysts expect PepsiCo to earn $5.80 per share next year, which means the company should continue to be able to cover its $3.71 annual dividend with an expected future payout ratio of 64.0%.

PepsiCo stock traded up $0.33 during midday trading on Wednesday, reaching $114.12. The stock had a trading volume of 5,465,556 shares, compared to its average volume of 5,279,452. PepsiCo has a 12 month low of $95.94 and a 12 month high of $122.00. The stock has a market capitalization of $159.56 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.78 and a beta of 0.62. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31.

PEP has been the topic of a number of research reports. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, UBS Group assumed coverage on PepsiCo in a report on Thursday, December 13th. They set a “neutral” rating and a $123.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $117.12.

A number of hedge funds have recently bought and sold shares of PEP. Rehmann Capital Advisory Group grew its holdings in PepsiCo by 0.3% during the 4th quarter. Rehmann Capital Advisory Group now owns 262,608 shares of the company’s stock valued at $29,013,000 after buying an additional 898 shares in the last quarter. Fiera Capital Corp grew its holdings in PepsiCo by 7.6% during the 4th quarter. Fiera Capital Corp now owns 4,487,211 shares of the company’s stock valued at $495,748,000 after buying an additional 317,070 shares in the last quarter. Probity Advisors Inc. grew its holdings in shares of PepsiCo by 17.2% during the fourth quarter. Probity Advisors Inc. now owns 3,619 shares of the company’s stock worth $400,000 after purchasing an additional 532 shares in the last quarter. Alambic Investment Management L.P. purchased a new position in shares of PepsiCo during the fourth quarter worth about $2,730,000. Finally, Employees Retirement System of Texas grew its holdings in shares of PepsiCo by 3.2% during the fourth quarter. Employees Retirement System of Texas now owns 213,300 shares of the company’s stock worth $23,565,000 after purchasing an additional 6,600 shares in the last quarter. 72.59% of the stock is owned by institutional investors and hedge funds.

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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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Dividend History for PepsiCo (NASDAQ:PEP)

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