Bridges Investment Management Inc. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,327 shares of the company’s stock after buying an additional 543 shares during the period. Bridges Investment Management Inc.’s holdings in PepsiCo were worth $24,509,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. PSI Advisors LLC bought a new position in shares of PepsiCo during the 4th quarter valued at about $25,000. Evolution Wealth Advisors LLC lifted its holdings in shares of PepsiCo by 221.0% during the 4th quarter. Evolution Wealth Advisors LLC now owns 199 shares of the company’s stock valued at $27,000 after purchasing an additional 137 shares in the last quarter. Permanens Capital L.P. lifted its holdings in shares of PepsiCo by 511.4% during the 4th quarter. Permanens Capital L.P. now owns 269 shares of the company’s stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of PepsiCo during the 4th quarter valued at about $40,000. Finally, Simon Quick Advisors LLC lifted its holdings in shares of PepsiCo by 53.9% during the 4th quarter. Simon Quick Advisors LLC now owns 337 shares of the company’s stock valued at $46,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 71.73% of the company’s stock.
Several research firms have recently weighed in on PEP. BidaskClub upgraded PepsiCo from a “buy” rating to a “strong-buy” rating in a report on Friday, March 6th. SunTrust Banks boosted their target price on PepsiCo to and gave the company a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded PepsiCo from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $153.00 in a research note on Monday. Guggenheim upgraded PepsiCo from a “neutral” rating to a “buy” rating and set a $134.00 target price on the stock in a research note on Friday, March 20th. They noted that the move was a valuation call. Finally, Cfra upgraded PepsiCo from a “buy” rating to a “strong-buy” rating and cut their target price for the company from $160.00 to $145.00 in a research note on Friday, March 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $139.20.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01. The firm had revenue of $20.64 billion for the quarter, compared to analyst estimates of $20.24 billion. PepsiCo had a return on equity of 54.16% and a net margin of 10.89%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.49 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 5.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be given a dividend of $0.955 per share. This represents a $3.82 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Thursday, March 5th. PepsiCo’s dividend payout ratio (DPR) is 69.08%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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